Greenwood Gold Resources Inc. Announces $400 Million Appraisal of Assets Acquired Through Acquisition Agreement
24 Apr, 2012, 11:47 ET
LAS VEGAS, April 24, 2012 /PRNewswire/ -- Greenwood Gold Resources Inc. (OTCBB: GGRI), (OTCQB: GGRI)
In keeping with its strategy to become a world leader in certified carbon credit trading, the Company announced today that certain land rights and interests it recently acquired have been appraised by a third party.
The appraised parcel of land in Ecuador, South America, consisting of 80,200 hectares, was appraised at US $5,000 per hectare yielding an estimated value of US $400,000,000 and is supplemented by an additional 25,000 hectares in an adjacent area that, if comparable (it has not yet been appraised), could bring the total value of rights and interests of the properties to over US $500,000,000. By way of contracts with a non-profit group in South America, all rights and interests in these properties are exclusive to Greenwood Gold Resources Inc., which is currently undergoing a name change to BluForest Inc. to better reflect its business activities. This includes exclusive rights over carbon credits that have yet to be evaluated.
The company is currently in the process of having the remaining 25,000 hectares appraised and will notify its shareholders of any new developments via news releases as they develop.
Please visit www.bluforest.com for more information.
On behalf of the Board of Greenwood Gold Resources Inc.
Greenwood Gold Resources Inc.
4960 S. Gilbert Road, Suite 1-111,
Chandler, AZ 85249
Company phone number:
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SOURCE Greenwod Gold Resources Inc.
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