On February 28, 2013, Charles Miller, CEO of BluForestInc and Guillermo Herrera, President of the REDD+ Common Wealth of Northern Ecuador ("MNE"), in the presence of the former Minister of Environment and current National Congresswoman Abogada Marcela Aquinaga Vallejo, signed a contract to develop the REDD+ project - Phase 1, corresponding to the province of Sucumbios, with an initial 1,500,000 hectares, corresponding approximately 17 million Verified Carbon Standards, ("VCS").
The MNE and BluForest aim to develop the REDD + MNE project under the appointing of the United Nations Climate Change Convention Frame.
This is the first REDD+ Project in Ecuador, that goes alongside with another Ecuadorian and worldwide unique project, the Yasuni ITT initiative, to maintain non exploited oil reserves of the area in which lies the Yasuni National Park and their areas of influence; This project has raised more than US $ 300 million for works and activities that avoid deforestation and the corresponding emissions in case the oil were exploited and commercialized.
The REDD + MNE project is being developed in the framework of an inter-institutional cooperation action between the MNE and the Ecuadorian Ministry of Environment, who is also conducting methodological and technical advice in the process. This process is expected to achieve the highest quality of technical social and biodiversity certifications, using VCS and Climate Community and Biodiversity standards, CCBA.
BluForest Inc. is a company that has demonstrated its social and environmental responsibility regarding climate change and its support of local communities and Indigenous people. BluForest has demonstrated this dedication through commitment of funds for the project, and expressed in the pre-purchase contract of certificates a period of five years in the voluntary market.
The first resources to be supplied will be directed to carrying out technical studies and preparation of project documents for the REDD+ project in the first stage, and will also finance some community activities and local governance that will support reduce deforestation and forest degradation in the project area. These activities certainly will support as well the verification and validation phase of the project documents.
It is remarkable the methodology of social and inter-agency coordination that has been developed for this project, which has been driven by the interests of the public sector, the private sector and the indigenous communities; actors who have channeled their decisions, in a convergent manner in benefit of the project.
The benefits of the project, aim to raise the standard of living of the communities living in the forest and from the forest, providing alternatives to stop using timber resources for their maintenances and developing more sustainable ways of production and richness generation.
Charles Miller and Guillermo Herrera signing contract
BluForest and MNE representatives post signing
About BluForest Inc. 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.
Safe Harbor Act Notice: 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.
SOURCE BluForest Inc.