Amazonas Florestal Ltd Announces Completion and Publication of All of Its Pending Disclosures with OTC Markets
Amazonas Florestal, Ltd. (OTC: AZFL) has completed all pending OTC Markets disclosures and financial reports from 2018-2020, paving the way for current Pink Sheets Tier status. The company is also finalizing audits for PCAOB compliance and intends to file an S1 Registration Statement for an IPO. Amazonas is expanding its hemp operations, establishing a lab in Miami-Dade and negotiating a second facility in Colombia, targeting emerging markets in the EU. Chairman Ricardo Cortez emphasized returning to compliance and generating positive revenues shortly.
- All pending OTC Markets disclosures and financial reports completed.
- Positive review received for current financials, facilitating return to compliance.
- New hemp processing lab to be established in Miami-Dade.
- Negotiations for a second cannabinoid extraction lab in Colombia to target EU markets.
- Expected completion of PCAOB audits and filing of an S1 Registration Statement.
- None.
MIAMI, FL, April 08, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Amazonas Florestal, Ltd. (OTC: “AZFL”) (azflamerica.com), a natural resources company dedicated to innovative, sustainable forest management, the certification and sales of carbon credits, and processing Industrial Hemp, announced today that the Company has completed and posted all of its pending OTC Markets Disclosures and Financial Reports. OTC Markets has acknowledged publication of all of the pending Quarterly and Annual Reports beginning with the 2018 Annual Report and through the 2020 Annual Report.
The Company announced also, that today the Company has published the Attorney Opinion Letter on Current Financials that includes a positive review of all of the disclosures posted yesterday 04.07.2021. These filings complete all of the company’s financial obligations with OTC Markets and should bring it back to current Pink Sheets Information Tier status in the coming days once OTC Markets completes their review of the filings.
As previously reported, Green America Laboratories, a subsidiary of AZFL, has secured a facility in NW Miami-Dade County where the company will be building a top-of-the-line Hemp derived products lab that is due to begin operations sometime during the next fiscal quarter of 2021. GAL is due to become the largest Hemp processor this far south in the USA. AZFL further announced that GAL is presently in advancing negotiations to enter into an agreement that will allow the company to build a second cannabinoid bulk extractions lab in the country of Colombia and in partnership with a soon to be disclosed licensee that already operates production and distribution facilities under license to the Colombian government. AZFL will commit to increase their present operations for both Industrial Hemp and Medical Marijuana in that country, with focus on the new emerging markets in the European Union. Colombia is the only Latin American country that is approved by the European Union thus far to import and distribute cannabis products and allows licensing for the production and distribution of Delta 8 and Delta 9 products.
Further, the Company announced that several PCAOB audit firms are being interviewed this week and the Company expects to retain one of the candidates in the coming days to complete PCAOB audits of all of its records to date with the intention of completing and filing an S1 Registration Statement. The Registration will include the registration of an IPO that will allow the company funding channels to fund its present business plans which include extraction and conversion labs in several jurisdictions.
Ricardo Cortez, Chairman of the Board of Amazonas Florestal Ltd., stated: “It took a little longer than expected, completing the 9 reports, but they have been filed as promised to our shareholders. Management at AZFL expects that OTC Markets will accept the reports and remove all warnings posted on our ticker in the coming days. Returning to compliance has been a priority since December and now it is close to reality. Once the stop sign is removed the company will move forward towards PCAOB audits and seek to become fully reporting with the SEC later this year and perhaps apply to OTC QB or QX. We expect to soon have all of the necessary components and requirements. These are very promising and exciting times for AZFL and our shareholders as the company is primed for beginning operations and returning to positive revenues in the coming months.” Cortez also stated, “I am also proud to announce that we are building the new management teams both for AZFL and its subsidiaries GAL and soon to include GAC (Green America Colombia). Our teams are effectively executing company plans to complete GAL and bring it into operations and to begin similar projects in Colombia and Mexico. I want to thank our followers and collaborators for their valuable support; without you these new operations would not be possible, and please be assured that our new and very capable operators will bring our company and its new subsidiaries to positive operations.”
About Amazonas Florestal Ltd.
Amazonas Florestal Ltd. is a natural resources company dedicated to innovative, sustainable management of large tracts of land in the rainforests of Amazonas, Brazil, that include the certification and sale of carbon credits. In 2017, the Company shifted gears to focus on growing, harvesting, research and development of Industrial Hemp and related products in the U.S.A. and for the U.S. and Latin Markets. In 2021, the Company will build an important Hemp Oil Extraction facility in South Florida dedicated to the production of premium bulk cannabinoid extractions derived from Hemp and products that use these extractions as an active ingredient for Human and Animal Health and Wellness.
Headquartered in Miami, FL, Amazonas' goal is to become a leader in field of Cannabinoid Extractions serving labs that use these chemicals as a raw material for human and animal consumption in health and beauty products.
Disclaimer: Forward Looking Statements
Forward-looking statements in this release regarding Amazonas Florestal Ltd. are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, increased levels of competition, new products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
Contact:
Amazonas Florestal Ltd.
Email: azflorestal@outlook.com
Website: http://azflamerica.com
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