Very interesting.................
AQUATIC CELLULOSE INTL CORP (OTC BB: AQCI)
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News May 19, 11:21 Eastern Time <Picture: News Provided by Comtex>VERNON, BRITISH COLUMBIA (May 19) BUSINESS WIRE -May 19, 1999--Gary Ackles, chairman of AQCI (OTC BB: AQCI), is pleased to announce that the Brazilian evaluation team has returned from the project site. The team's evaluation included timber abundance and species identification using longitude and latitude co-ordinance formulas and a sophisticated Global Positioning System. This evaluation method has determined that the potential is far beyond the previously anticipated estimate by 50-60 percent, confirming in total 15 varieties of precious hardwood including four varieties of Mahogany. This discovery will bring the proposed value of the project to an excess of $80 million from the previously estimated $50 million.
"We were astounded at the vast amounts of timber that are located in the reservoir. The high quality and the large quantity of timber was amazing," stated Sheridan Westgarde, Team Leader, Brazilian Project. Mr. Westgarde further suggested visiting their website to view additional pictures posted today. 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 needs 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 herein.
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CONTACT: Aquatic Cellulose International Corp.
Mr. Gary Ackles, 250/558-5410
Website: www.aquaticcellulose.com
E-mail: can_do@mindlink.bc.ca
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