Amazonas Florestal, Ltd. (OTC PINK: AZFL), a natural resources company dedicated to innovative, sustainable forest management, the certification and sales of carbon credits, and Industrial CBD Hemp, announced that the company’s wholly-owned subsidiary Amazon Hemp Ltd. has completed and signed a Farm Contractor Agreement with 303 Farms LLC covering all of the required elements to establish a 100-acre Industrial CBD Hemp Plantation in Frederick, Colorado, just north of Dacono, Colorado.
The Company is now moving forward with the activation and implementation of its Business Plans for 2017 beginning with the restructuring of its Colorado subsidiary Amazonas Hemp Ltd, which has changed its name and is now known as Amazon Hemp Ltd. The Colorado subsidiary has achieved funding to complete the economic requirements for the Colorado Hemp project and is now processing permit approvals to plant, cultivate and develop a market for Industrial CBD Hemp products with focus on the production of CBD Oil and Crystals and the formulation of its own CBD product lines.
Peter W. Stebbins, Chief Executive Officer of Amazonas Florestal Ltd. commented, "€œWe are, from this date on, actively pursuing our participation in the growing markets for CBD Hemp products. These products include Oil, Crystals, Vapes and Edibles such as Chocolates, Candies, Butter and Cakes. We expect to have upwards of 2,000 gallons of High CBD Oil as a result of this first harvest that should come around late October of this year and will be placed on the market beginning in November. This production could potentially make the raw material needed to formulate these types of consumer products. To stay ahead of the competition, we are already working on market development to position the company to enter and compete in this new very exciting and fast-growing industry."
Ricardo Cortez, Company Chairman, also added. €œ"Our return to compliancy with OTC Markets and the initiation into the CBD Hemp business in Colorado is only the beginning of fulfillment to our plans to move the company forward in 2017. Company accountants are due to complete the 2016 10-K Annual Report by next week and it will be audited and filed on time. Also, negotiations are in place to complete the funding requirements to initiate the carbon credit studies in Brazil this year and the Hardwood Sleeper market is rapidly improving again and that should allow for the shipments of these certified wood products beginning again in July or August when the logging season kicks in this year in the Amazon. All said, it should be a very exciting year for our company and our shareholders."
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