(BSNS WIRE) Aquatic Cellulose forms Strategic Alliance
Aquatic Cellulose forms Strategic Alliance
Business Editors
VERNON, British Columbia--(BUSINESS WIRE)--June 28, 1999--Aquatic
Cellulose (OTC BB:AQCI) announced today the formation of a strategic
alliance with SyroTech Global Inc. for the harvesting of approximately
500 million board feet of timber in the permitted area of the Gatineau
River area of Quebec, with an estimated value of $160,000,000. Mr.
Ackles stated this is a very exciting opportunity for both our
companies. SyroTech Global is very well known for their ability to
secure major projects throughout Canada and the United Stated because
of their close links to the native communities and government
agencies. SyroTech Global has proved their marketing abilities, as is
evident in their recent trade mission to Europe and their ongoing
talks with major retailers of exotic wood. Mr. Ackles further stated
that with SyroTech Global's proven abilities to secure access to
timber and Aquatic Cellulose's ability to extract timber very rapidly,
makes this a perfect alliance. Aquatic Cellulose has committed to
begin timber extraction as soon as additional harvesting equipment can
be manufactured.
Peter Bernard, President of SyroTech Global stated that this will
be the benchmark by which all underwater logging operations in the
world will be measured. The coming together of our two companies will
ensure the maximizing of each of our strengths. Aquatic Cellulose has
the most advanced technology in the world for this industry. It is
efficient, effective and can do the Gatineau River system in a
fraction of the time it would take to traditionally harvest it.
Research had estimated it would have taken approximately 105 years to
remove all the logs from the Gatineau River based on our level of
recovery, just for the area that we have permits for. When you can
recover a tree in as little as 3 minutes, by just adding one
harvester, the effectiveness of the technology is staggering. Our
alliance will allow both companies to maximize our individual
strengths in one driving force in this new and virtually untapped
industry. It will also create virtually endless possibilities for both
companies working together. It is our hope that the Gatineau River
system is the first of many of our sites that Aquatic Cellulose will
harvest with us.
About the company
Aquatic Cellulose International Corp. is a company created for
the purpose of acquiring rights to harvest and recover inundated and
salvage timber. A unique patented robotic system created by Gary
Ackles, and licensed to Aquatic Cellulose International Corp. for use
in the forest industry, can reach down to the depths and retrieve this
valuable lost resource. Aquatic Cellulose is proud of the fact that
every tree that is recovered from the depths is one less tree that
need to be recovered from the forest. It is interesting to note that
there are 38,000 dams and waterways around the world that are
potential recovery sites for our exclusive robotic recovery system.
For more exciting information please visit our new website at
aquaticcellulose.com and join our growing e-mail list.
This press release contains statements that constitute forward
statements, as defined in the Private Securities Litigation Reform Act
of 1995. Forward looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors that may cause or
contribute to such differences include, among other things, the
Company's dependence on one customer, seasonality of the Company=s
retrieval business and risk of future losses from operations. Other
risks and uncertainties include changes in business conditions and the
economy in general, changes in governmental regulations, unforeseen
litigation and other risk factors identified. The Company undertakes
no obligation to update these forward-looking statements for revisions
or changes after the date of this press release.
The NASD OTC has neither approved nor disapproved of the
information contained herei |
