QUITO, ECUADOR — (Marketwired) — 08/15/13 — BluForest Inc. (OTCBB: BLUF) (OTCQB: BLUF) (“BluForest” or the “Company”), an emerging leader in the field of Carbon Trading and Renewable Energy, announced today that the company signed a Letter of Intent on August 12, 2013. BluForest entered into discussions with Global Fuel Limited, based in London, England, for the pre-purchase two Tons of Carbon Credit per Hectare per Year owned by BluForest Inc., commencing September 2013.
This pre-purchase of Carbon Credits shows the promise of adding significant growth over time, highlighted by substantial increases to revenue and operating income. Charlie Miller, CEO of BluForest, said, “Although the terms of the contract have yet to be defined, Global Fuel has showed an interest in working with BluForest in promoting carbon free oil and this pre-purchase of carbon credits opens a huge market within the shipping industry to help offset their carbon output.”
Under the terms of the LOI, BluForest will assign a first priority lien to the property held in assets of BluForest Inc. in Ecuador known as “Hacienda Juval” consisting of 105,000 Hectares as indicated on the Balance Sheets of BluForest registered in Ecuador. Global Fuel Limited has examined the appraisals and audits of BluForest Inc and concure with the value stated therein of the aforementioned property.
In the event that BluForest “Fails to Deliver” the afore mentioned Carbon Credits or “Repay” the above sums at an interest rate calculated from the one month LIBOR ARM Index plus a margin of 2% with a floor rate of 5.75%, as defined in the General Security Agreement, Global Fuel Limited then may move to attach the herein mentioned assets in priority, without dispute.The company is undertaking due diligence and will announce the signing of a definitive agreement in the event that one is signed.
BluForest Inc. is a development stage company that is a publically traded carbon offsets marketing and renewable energy company. BLUF is executing its strategy to become a leading marketer of carbon offsets in the voluntary markets under the UN principle of Reducing Emissions from Deforestation and forest Degradation (REDD+). The BluForest website provides further information about the company which prospective investors are encouraged to visit.
Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management–s current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company–s ability to obtain additional financing and the demand for the company–s products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority (“FINRA”) for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company–s expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company–s success are more fully disclosed in the company–s most recent public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are typically identified by the use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “should,” “will,” and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
On behalf of the Board of BluForest Inc.
Contact Us
BluForest Inc.
Company phone number: 1-855-509-5508