Keweenaw Land Association, Limited Announces the Release of the 2012 Annual Report
March 26 2013 - 12:00PM
Business Wire
Keweenaw Land Association, Limited (KEWL: OTC Pink) today
announced the release of the 2012 Annual Report which is now
available on its website at www.keweenaw.com. Contained in the
Annual Report are the results of an independent appraisal conducted
in December 2012 by Steigerwaldt Land Services of Tomahawk,
Wisconsin. Approximately every three years since 1998, Keweenaw has
engaged the services of an independent, certified, general
appraisal firm to perform a third-party evaluation of the company’s
land and timber assets. An executive summary of the 2012 appraisal
provided to management by Steigerwaldt Land Services is also
available on Keweenaw’s website.
David Ayer, Chairman, stated, “We are pleased to report that
according to the appraisal, our timber value and the overall asset
value have increased by over 14% and 8%, respectively, from such
values reflected in a Steigerwaldt appraisal conducted in 2009.”
Also adding, “We continue to be appreciative of the support we have
received from our shareholders over the years. As the company moves
forward, we will continue to manage your assets ethically for
long-term appreciation.”
About Keweenaw Land Association, Limited: Keweenaw is a forest
products and land management company located in Ironwood, Michigan.
Keweenaw has land holdings of approximately 162,000 surface acres
and over 400,000 acres of mineral rights, located predominantly in
the western Upper Peninsula of Michigan. Keweenaw shares trade in
the OTC Markets under the Pink directory with 1,294,118 shares
outstanding.
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