Miami, Florida – (OTC Markets) – Rainforest Resources Inc. (“RRIF”) announced today that through its subsidiary, Rain Forest Enterprise SA, it has issued respective certificates to finalize the property acquisition in San Vicente de Cambugan, Ecuador as announced in the Letter of Intent, dated July 7th, 2020. This process will take eight days for the notarization process and will then verify and complete the purchase and sale agreement of San Vicente de Cambugan.
With this further acquisition of rainforest and highlands in this area, Rainforest Resources Inc. will expand the containment of carbon emissions and can add further value to the company and its mission to keep important ecosystems intact while saving endangered animals from extinction.
One hectare of this land sequesters approx. 180 tons of carbon per year. The newly acquired 9,190 hectares of rainforest and highlands will offset 1,654,200 tons of carbon yearly. The carbon sequestration potential of afforestation/reforestation is specific to the species, site, and management involved, and is therefore very variable. Rainforest Resources Inc. will not only double its carbon containment, but it will also continue to protect waterfalls, rivers, and the high biodiversity of endemic flora and fauna of the region.
The LOI is subject to the verification of titles to the property. Upon receipt of title verification, the company will enter into a purchase and sale agreement, the detail of which will be disclosed on the company website www.rainforestresourcesinc.com and OTC Markets.
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