Amazonas Florestal Ltd. Announced Today That The Company's Wholly Owned Subsidiary, Amazon Hemp, will not be implementing a reverse stock split during 2017, and Further Announces Update on Hemp Plantations in Colorado
Jul 24, 2017
OTC Disclosure & News Service
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Amazonas Florestal Ltd. Announced Today That The Company's Wholly Owned Subsidiary, Amazon Hemp, will not be implementing a reverse stock split during 2017, and Further Announces Update on Hemp Plantations in Colorado
MIAMI, FL--(Marketwired - Jul 24, 2017) - Amazonas Florestal, Ltd. ("Amazonas Florestal" or the "company") (OTC PINK: AZFL), a premier provider and innovator of natural resources products, certification and sales of carbon credits, sustainable forest management resources and related services, as well as a pioneer to the development and enhancement of the evolving and legal Industrial CBD Hemp business, announced that AZFL will NOT be implementing a reverse stock split during 2017.
AZFL main focus is in the long term success of the company and their shareholders, it is important to the AZFL family to implement the right strategies and to take the necessary steps to accomplish that goal. Starting by assuring the shareholders that AZFL does not plan nor implement a reverse stock split in the next upcoming years. The company understands the tremendous value shareholders bring to support the success of AZFL; therefore, AZFL will go above and beyond to bring shareholders value.
As part of this current strategy, the company's board is studying the possibility to buyback company's shares and pay back part of the debt once the proceedings and profits from the Hemp plantations in Colorado are available.
In addition, AZFL has negotiated with note-holders to temporarily freeze selling debt notes up until after harvesting time late October 2017.
Hemp Plantation Update:
As of today, we are on our 67th day out of 110 days of production, putting the project at a 61% completion.
Ricardo Cortez -- Chairman:
"We have three (3) major announcements that we are excited to share with our shareholders (above). AZFL is aware of the value that the company could potentially bring to our shareholders in the near future once revenues are reported; therefore, we are to avoid any further damage to the shareholders value at this time. Stay tuned for further important updates!"
