Sakha Enterprises Corporation Acquires 100% of SEVERNYI LPK
April 17 2008 - 8:30AM
Marketwired
TORONTO is pleased to announce the acquisition of all of the
outstanding shares of SEVERNYI LPK, a forestry products company in
the Republic of Buryatia, the Russian Federation.
SEVERNYI LPK has timber harvesting rights for up to 5 million
cubic meters annual cut for a period of 49 years. At current
prices, the market value of the unprocessed round timber is
estimated to be between 25 to 30 billion dollars US.
"This acquisition will give Sakha Enterprises a great
opportunity to enter a very lucrative Asian Timber Market," says
Franz Dobnik, President and CEO.
In compliance with the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, Sakha notes that
statements contained in this announcement that are not historical
facts may be forward-looking statements that are subject to a
variety of risks and uncertainties. Accordingly, Sakha wishes to
caution readers of this announcement that its future actual results
may differ materially from those that any forward-looking
statements may imply. There is no assurance the above-described
events will be completed. There can be no assurance of the ability
of the Company to achieve sales goals, obtain contracts or
financing, consummate acquisitions or achieve profitability in the
future.
Sakha Enterprises Corporation
1 First Canadian Place, Suite 350,
Toronto, Canada, M5X 1C1
Common shares outstanding: 46,000,000
Share Float: 3,000,000
FOR FURTHER INFORMATION, CONTACT: Franz Dobnik President Phone:
(416) 830-0905 Email: Email Contact Website:
www.sakhaenterprises.com
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