Amazonas Florestal, Ltd. Announces New Business Developments
Miami, FL, March 29, 2022 (GLOBE NEWSWIRE) -- via Amazonas Florestal, Ltd. (OTC:AZFL) announced today that its subsidiary Green America Laboratories (GAL) has completed and presented the revised final submittals of the architectural, mechanical, electrical, and plumbing plans to the Miami-Dade County Building and Zoning for their review and approval. These drawings were revised as per the comments and guidance of county authorities, and GAL's management expects that in this round of presentations, they will be accepted and approved in the coming weeks. Building permit approval will allow the subsidiary to move forward with the build out and installation of its state-of-the-art lab equipment. First of its kind in South Florida, which is the gateway to Latin America where the emerging markets for these products are growing substantially. Once permits are approved, Company managers will schedule the final installation and training that is expected to take approximately 90 days and will allow for GAL to launch operations most probably sometime this Fall.
AZFL Chairman/CEO Ricardo Cortez stated: “The completion of Green America Labs continues to be top priority for our Management Team that in cooperation with specialized engineering and environmental firms have put together an excellent set of plans for Miami-Dade County Building Department. Our market research has made it clear that once the lab’s operations are inaugurated and open for business, it will represent a major milestone in the development of AZFL and lead our company to its first ever USA-based positive revenues and it will happen this year. As a small public vehicle that has never been able to report substantial revenues from stateside operations, we are confident that this development will lead the way to enable us to apply for QB or QX which has always been our goal and intention.”
Mr. Jose Giron, General Manager for GAL, stated, “The GAL Design Team that I am proud to oversee has done a phenomenal job undertaking this project, which has a unique set of challenges and requires creative design solutions to abide with all recently established requirements imposed by county authorities. MDC Building and Zoning instructed, through their comments and project annotations, that major changes be applied to the original project plans in order to abide with new county ordinances that affect this type of business in South Florida. This took a while to accomplish since they were all requirements that local engineers had not dealt with previously in their permit renderings. Overall, a complicated mission, but we’ve taken the challenge head on, and the final plans have been submitted. We are now in their capable hands and expect results to be announced in the coming weeks. Our General Contractor and Precision Extraction’s engineers are ready to move in to complete the build out and installations. The team has worked endless hours on this for months, and I am excited to finally share the news.”
Green America Laboratories is set to become the first major bulk cannabinoids extraction lab in Miami, FL—with a production capacity of 200+ KGS /day of High-CBD T-Free distillates and isolates. Pending the present review and approval from local building authorities, GAL’s management team remains focused on obtaining the permit approvals to complete the construction of the facility in the coming months.
Carlos Martinez, CFO for AZFL also added: “I am very pleased to be part of this team. It is evident that over the last year and a half the administrators for AZFL and GAL have become more efficient streamlining the company to enjoy the best financial outlook it has ever had. As the results will show in the 2021 Annual Report that was recently completed, the Company has had growth and positive revenue from the Colombian operations for the last two trimesters and predicts to have its first major positive revenues in the USA this year from the GAL operations. In general, AZFL has not ever reached these financial positions and the prognosis remains is very positive. Our team in Colombia that overlooks the operations of Innova and Gamma are gearing up for substantial growth again this year and Magna Leaf Mexico will become active as well importing and distributing Hemp derived high CBD products in Mexico. All solid business directions that should provide for solid results. Please stay tuned for our financial reports coming soon.”
About Amazonas Florestal Ltd.
Amazonas Florestal, Ltd.—headquartered in Miami, FL—is a natural resources company dedicated to the research and development of innovative projects to process Industrial Hemp in legal cannabinoid concentrations into High CBD, THC-Free and Delta-8 products. The company also promotes the sustainable management of large tracts of land in the rainforest state of Amazonas, in Brazil, and projects the certification and sale of carbon credits registered from the preservation of rainforest properties. In 2017, the company shifted gears to focus on the growing, harvesting, research and development of Industrial Hemp and related products in the U.S.A. for both domestic and international markets. In 2021, the company is building an important hemp-derived extraction facility in Miami, FL dedicated to the production of premium bulk T-Free concentrates. Amazonas Florestal's goal is to become a leader in the field of cannabinoid extractions, serving labs that use these distillates as raw material for human and animal health/wellness products.
Disclaimer: Forward Looking Statements
Forward-looking statements in this release regarding Amazonas Florestal Ltd. are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, increased levels of competition, new products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
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