Aquatic Completes Initial Stage Of Multi-Million Dollar Financing For Global Expansion.Business Editors VERNON, B.C.--(BUSINESS WIRE)--May 11, 2000 Aquatic Cellulose (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AQCI) has completed the initial round of funding of a multi-million dollar investment. The funding is being provided by New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of investment funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company . In announcing one of the most important events in company history, Gary Ackles, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AQCI stated, "The substantial financial commitment by these sophisticated investors is further testament to our proven technology and industry leadership. Moving aggressively forward on all fronts expanding production, manufacturing, distribution and sales, we will rapidly implement our business plan for global expansion to secure and further strengthen our dominant position in this dynamically emerging industry." Terms of the agreement provide AQCI funding in multiple phases. Mr. Ackles noted, "The initial phase has been completed." About the Company Aquatic Cellulose International Corp. (AQCI) is a growth stage, technology based company retrieving aquatic timber. Gary Ackles, President and C.E.O. of AQCI, has patented a unique robotic harvesting technology and has granted exclusive rights to AQCI for its use in this environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] industry. AQCI's "diverless" harvesting system dramatically increases production capacity sufficient to enable large scale, commercially viable operations. As a result, Aquatic Cellulose is positioned at the extreme forefront of an emerging industry worth untold billions in untapped timber reserves. In November of 1999, the company began its first large scale operation at the Tucurui reservoir in the Amazon region of northern Brazil. Valued over $US 600,000,000, this multi-phase project is scheduled for completion by 2020. From its Brazilian operation, Aquatic Cellulose has introduced a new product line of water cured, tropical hardwoods called THE AMAZON LINE. Carefully selected based upon color, density, grain pattern and exotic appearance, THE AMAZON LINE offers uncompromising beauty and "old growth" quality with environmental peace of mind. THE AMAZON LINE is targeted to high-end consumer related markets, ranging from musical instruments to fine furniture to precious works of art. The company has secured the Internet domain name An organization's unique name on the Internet. The chosen name combined with a top level domain (TLD), such as .com or .org, also called a "domain extension," makes up the Internet domain name. For example, computerlanguage.com is the domain name for the publisher of this Encyclopedia. www.amazonline.com and is constructing this web site for e-commerce. Counting over 38,000 dams worldwide, not to mention endless lakes, rivers and tributaries, there are unlimited global opportunities for expanding AQCI operations. To learn more about this fascinating company, please visit our company web site at www.aquaticcellulose.com and join our growing e-mail list. This press release contains statements that constitute forward statements, as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that may cause or contribute to such differences include, among other things, the Company's dependence on one customer, seasonality of the Company's retrieval business and risk of future losses from operations. Other risks and uncertainties include changes in business conditions and the economy in general, changes in governmental regulations, unforeseen litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and other risk factors identified. The Company undertakes no obligation to update these forward-looking statements for revisions or changes after the date of this press release. The NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). has neither approved nor disapproved of the information contained herein. |
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