ECOLOGIX Resource Group Accelerates Revenue Forecast; Announces Harvesting of Over 200 Trees
November 11 2009 - 8:31AM
Marketwired
ECOLOGIX Resource Group (OTCBB: EXRG), a natural resource company
focused on the timber industry and production of alternative energy
solutions, announced today it has harvested over 200 trees in
Cameroon. As a result, and coupled with strong market demand, the
Company now expects its operations will be revenue-generating by
the end of this month, ahead of recently revised forecasts.
ECOLOGIX recently announced it had expected its operations would
be revenue-generating by the end of 2009, today's announcement
represents an acceleration to that schedule. The Company cited the
tree harvesting, as well as an increased interest level from both
local and international customers for its revised forecast.
Jason Fine, Chairman and CEO of ECOLOGIX Resource Group, said,
"We are extremely pleased with the progress made thus far in
Africa. By having a well-organized and strategically placed team we
were able to move in par with the dynamic market conditions in
play. According to IBISWorld Timber Reports, Timber is a $1.9
billion industry as of 2008, and ECOLOGIX fully intends to be a
leader in the industry and a true pioneer in terms of the positive
mark it leaves on the environment. Today's announcement represents
another great development arising from our African operations; we
hope to have many more positive announcements in the near
future."
The Company noted that it is continually focused on the most
stringent environmental standards; when extracting the allowed
timber, ECOLOGIX only exploits a small amount of rainforest (.0003%
annually) and continually is planting new seedlings to replace
extracted timber.
About ECOLOGIX Resource Group
ECOLOGIX Resource Group is a natural resource company focused on
the timber industry and production of alternative energy solutions
in accordance with the most stringent environmental standards
regulating these industries. Additional information on ECOLOGIX
Resource Group is available on its website, www.ecologixrg.com.
Safe Harbor
This press release contains forward-looking statements made
pursuant to the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995. Readers are cautioned that a number
of factors could cause our actual results to differ materially from
any results indicated in this release or in any other
forward-looking statements made by us, or on our behalf. These
include among others factors related to general economic
conditions, interest rates, demand for materials handling products
and construction equipment, performance of our manufacturing
facilities and the cyclical nature of the materials handling and
construction equipment industries. Further, historical information
should not be considered an indicator of future performance.
Additional considerations and important risk factors are described
in our reports on Form 10-K and 10-Q and other filings with the
Securities and Exchange Commission.
ECOLOGIX Resource Group Toll free: 1 888-LOGIXRG (564-4974)
Email: ir@ecologixrg.com
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