news out...AQCI looks good!!!
Aquatic Cellulose forms Strategic Alliance
VERNON, British Columbia, Jun 28, 1999 (BUSINESS WIRE via COMTEX) -- AquaticCellulose (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.
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