IOVE (.007) NEWS
The Italian Oven Provides Statistical Information Relating to the Timber Available to Richwood Eco Ventures, Inc. Market Wire "US Press Releases "
EL RAMA , NICARAGUA -- (MARKET WIRE) -- 08/18/09 -- The Italian Oven Inc. (PINKSHEETS: IOVE) today released statistical data about timber available through Richwood Eco Ventures Inc. (REVI).
REVI, Rich Corporación and TEKNISA, in conjunction with the partnership with Deutsche Gesellschaft fur Technische Zusammenarbeit GmbH (GTZ), received approval to extract wood from 294,172 hectares. However, Richwood has not yet built roads to access the majority of the land. Approximately 100,000 hectares may be reached by Richwood to harvest wood needed for orders.
Approximately 42% of the trees within this area were knocked down by Hurricane Felix. Because of the threat of forest fires caused by the situation, there exists an ecological emergency necessitating the harvesting of the land.
The Nicaraguan National Institute of Forestry (INAFOR) estimates that each hectare yields an average of twenty-one square board meters of wood that may be timbered. Richwood's present operations confirm that these estimates are fair.
Statistics from the area created by INAFOR show that timber consists of the following woods: Areno (3.36%), Red Uccuba (2.6%), Fiddlewood (.71%), Camibar (.68%), Mahogany (2.12%), Royal Mahogany (12.22%), Spanish Cedar (.83%), Kapok (3.96%), Tamarindo (13.49%), ITE (.58%), Coyote (.88%), Rosewood (5.83%), Brazilian Cherry (1.79%), Black Guayaba (3.36%), Sura (1.11%), Black Laurel (.48%), Maria (5.66%), Kerosene (2.93), and many others. A full list of woods Richwood can offer to international customers for export may be found at www.theitalianoveninc.com/richwood.html.
Richwood is presently able to fulfill customer orders for wood products including those for export. The Company maintains a full saw mill and wood processing plant with over fifty employees. All timber has been authorized for processing by international associations and the Government of Nicaragua and full accountability exists along with replanting. If your company is interested in purchasing our timber, please contact us.
ABOUT THE ITALIAN OVEN
The Italian Oven, Inc. is a diversified holding corporation. IOVE owns over 80% of Richwood Eco Ventures Inc. IOVE share structure: Public float shares: 325,161,800 (held by CEDE & Company ); Certificate shares: 113,129,900 (70,546,600 restricted, 42,583,300 unrestricted); Restricted common belonging to My Pleasure Limited , United Kingdom : 500,000,000. Total common shares: 938,291,700; Zero preferred shares. Authorized shares: 999,999,999. No new common shares will be issued prior to January 15, 2010 for any reason.
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Contact: Investor Relations The Italian Oven, Inc. ir@theitalianoveninc.com 267-864-7737 Fax: 267-371-5168 www.theitalianoveninc.com Twitter: italianoven
