Miami, FL, Oct. 18, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Amazonas Florestal, Ltd. (OTC:AZFL) Management announced today that the Company has posted its 3rd quarter financial reports and disclosures—showing consolidated revenues of $4.885 Million that derived primarily from the operations of its recently acquired subsidiaries Gamma Engineers and Innova Consulting. The two Colombian companies have displayed tremendous efficiency and growth potential while transitioning to the surging cannabis space with customers throughout Colombia. Innova has projected positive revenues from operations of more than $8 Million for its fiscal 2021 operations.
AZFL's quarterly report demonstrates gross income of $502,483, the issuers highest reported income in its history. The Company operators in Colombia estimate that these present operations compounded with new business that is to be organized in the final trimester of this year will position AZFL as a leader in the field among Hemp and Medical Marijuana licensed producers in Colombia.
CFO Carlos Martínez stated: "These are the highest year to date revenues comparatively ever reported by Amazonas Florestal. Management is doing outstanding work in establishing its presence in the emerging Latin American cannabis markets. Our subsidiaries Innova and Gamma are achieving excellent growth rates through the services that they provide to the Colombian producers and to the other strategic alliances and partnership that are being consolidated to these efforts. The organization of these subsidiaries abroad and the modern lab it is building in South Florida are proving to be the spark that will take AZFL to fulfill the profitable business combinations it had strived to accomplish for many years."
AZFL also announced that last week its subsidiary Green America Laboratories completed submission to the county building and planning authorities of the second set of architectural drawings. CEO Ricardo Cortez said: "Our development team has worked restlessly on the design, review and presentation of these architectural plans. We are making great progress in meeting building and zoning requirements and are excited to start the construction of our state-of-the-art laboratory facility very soon. We feel confident that we've put together the team that will deliver outstanding results in the coming months." Green America Laboratories (GAL) is set to become the largest hemp extraction facility in South Florida, with equipment capable of producing over 220 liters of pure CBD T-Free distillates of the highest quality available per day.
About Amazonas Florestal Ltd.
Amazonas Florestal, Ltd.—headquartered in Miami, FL—is a natural resources company dedicated to the research and development of innovative projects to process Industrial Hemp in legal cannabinoid concentrations into High CBD, THC-Free and Delta-8 products. The company also promotes the sustainable management of large tracts of land in the rainforest state of Amazonas, in Brazil, and projects the certification and sale of carbon credits registered from the preservation of rainforest properties. In 2017, the company shifted gears to focus on the growing, harvesting, research and development of Industrial Hemp and related products in the U.S.A. for both domestic and international markets. In 2021, the company is building an important hemp-derived extraction facility in Miami, FL dedicated to the production of premium bulk T-Free concentrates. Amazonas Florestal's goal is to become a leader in the field of cannabinoid extractions, serving labs that use these distillates as raw material for human and animal health/wellness products.
Disclaimer: Forward Looking Statements
Forward-looking statements in this release regarding Amazonas Florestal Ltd. are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, increased levels of competition, new products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
Amazonas Florestal Ltd.