Miami Florida – (OTC Markets) – October 7, 2020 – Rainforest Resources Inc. (“RRIF”), announced today that through its subsidiary RAIN Forest Enterprise SA, it has issued respective certificates to finalize the property acquisition in SAN VICENTE DE CAMBUGAN, as announced in the LOI, dated July 7, 2020. This process will take eight days for the notarization process and will then verify and complete the Purchase and Sale Agreement of SAN VICENTE DE CAMBUGAN.
With this further acquisition of rainforest and highlands in SAN VICENTE DE CAMBUGAN, Ecuador, Rainforest Resources Inc. will expand the containment of carbon emissions and can add further value to the company and its mission to keeping important ecosystems intact and saving endangered animals from extinction.
One hectare of this land sequesters approx. 180 tons carbon per year. The newly acquired 9,190 hectares of rainforest and highlands will offset 1,654,200 tons of carbon yearly. The carbon sequestration potential of afforestation/reforestation is specific to the species, site and management involved, and is therefore very variable. Rainforest Resources Inc. will not only double its carbon containment, it will also continue to protect waterfalls, rivers and the high biodiversity of endemic flora and fauna of the region.
The LOI is subject to the verification of titles to the property. Upon receipt of title verification, the Company will enter into a Purchase and Sale Agreement, the detail of which will be disclosed on the Company website www.rainforestresourcesinc.com and OTC Markets.
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