IR-Med Inc. (IRME)

[PINKFISHERMAN]

MORE DD CURRENT COMPANY PROJECTS
VANUATU PROJECT BRIEF
ECO2 has finalised all arrangements for the acquisition of a 20,000 acre forestry project on the island of Malakula, Vanuatu. The project will deliver a positive and sustainable impact on the „three E‟s‟ - Environment, Economic and Employment - in Vanuatu.
The land was acquired with the help and support of legal advisors to the Vanuatu Government. In total the acquisition of the land represents over $55million and was paid for utilizing preferred shares in the company. The preferred shares have a twenty year redemption plan, thus allowing the profits of the forests to fund the land acquisition.
This forest paves the way for over 3.3 million Kiri Trees to be planted, commencing in early 2010, using the Company‟s Global Forestry Plan. The project will create hundreds of local jobs, 602 million board feet of renewable saw milled timber and carbon sequestration of 7 million tonnes of carbon dioxide (CO2) from the atmosphere.
As the two trillion dollar timber industry continues to grow at 4% annually timber resources are disappearing at the alarming rate of 96,000 acres per year. The need for continual supply of sustainable forestry has never been more critical and the Global Forestry Plan has been structured to address this supply/demand issue. This demand creates a ready market for the timber from the Vanuatu project.
Our Vanuatu project will sequester 7 million tonnes of CO2 from the atmosphere every seven years courtesy of the company‟s remarkable Kiri Tree; a fast growing, high CO2 absorbing tree ready for mature harvest in just seven years. Post harvest, the Kiri Trees will re-grow from the stump, sequester more CO2, stabilise and enrich the soil and negate the need for replanting, and the process begins all over again.
Locally, the company estimates the project will create at least 400 full and part time jobs within the first three years. This number will increase over the first seven years as we build up to the first harvest, at which point the forest will have all stages of the growth cycle in operation. The positive effect for employees, their families and the wider community will be felt for decades through the additional cash injection and increased quality of life provided by the project to the people of Vanuatu.
The fast growth and regenerative capabilities of the Kiri Tree, developed over 20 years, will allow the Vanuatu project up to seven harvests within 50 years; the same time that it takes many other traditional forestry projects to reach their first harvest. Over this time, the 20,000 acre project will produce the timber yield equivalent of a 140,000 acre project of traditional forested species.
Discussions are underway regarding additional plots of land in Vanuatu for the creation of more forests and the creation of an advanced root stock growing facility.
Further the company is in negotiations with the Vanuatu Government for the exclusive right to reforestation in the Republic of Vanuatu.