FastForests, Inc.: $120,000,000 in Revenue From New Agreement
April 07 2005 - 11:15AM
PR Newswire (US)
FastForests, Inc.: $120,000,000 in Revenue From New Agreement BOCA
RATON, Fla., April 7 /PRNewswire-FirstCall/ -- FastForests, Inc.
(OTC:FSFR), in conjunction with its Australian partner Panpacific
Development Funds Limited, has secured licenses to market worldwide
up to 27 new varieties of fast-growing hardwood trees. As part of
the agreement FastForests will be developing nursery facilities on
a global basis capable of supplying and delivering per nursery,
between 250,000 and 500,000 disease-free infant plants per month to
meet the current marketplace demands. During the financial year of
2005 through 2006, FastForests believes additional revenues of
$120,000,000 can be realized as a result of the license for nursery
developments globally. The FastForests, Inc. Board of Directors has
just approved a name change by way of a resolution; it was resolved
that the new name, Energy and Asset Technology, Inc., is to replace
the corporate name of FastForests, Inc. A new stock symbol will
also be made available to reflect the name change shortly. A new
tree subsidiary is to be incorporated and will be known as Global
Cedar Inc., a division of Energy and Asset Technology, Inc.
Contact: FastForests, Inc. George McMillan U.S.: 561-620-4949
Australia: 617-5570-4500 The information contained herein is based
on sources we believe to be reliable, but there is no guarantee
that it is accurate or all-inclusive. It is not to be construed as
an offer or the solicitation of an offer to buy or sell the
securities mentioned herein. The opinions reflect the judgment of
the author at this date and are subject to change without notice.
This release was issued through eReleases(TM). For more
information, visit http://www.ereleases.com/. DATASOURCE:
FastForests, Inc. CONTACT: George McMillan, FastForests, Inc., ,
U.S.: +1-561-620-4949, Australia: 617-5570-4500
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