ECOLOGIX Resource Group Expects to Record Revenue by Year-End
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BEVERLY HILLS, CA, Nov 09 (MARKET WIRE) --
ECOLOGIX Resource Group (OTCBB: EXRG), a natural resource company focused
on the timber industry and production of alternative energy solutions,
announced today it expects the Company's operations will be
revenue-generating by the end of 2009, ahead of internal forecasts.
ECOLOGIX recently reported it had commenced operations in Cameroon ahead
of schedule. This accelerated schedule coupled with some favorable market
conditions are directly responsible for the Company's accelerated revenue
forecast.
Jason Fine, Chairman and CEO of ECOLOGIX Resource Group, said, "We are
pleased to be able to capitalize on the strong demand we are seeing in the
marketplace. Due in large part to thoughtful planning and a relentless
focus on execution we are now positioned to monetize our efforts ahead of
schedule. While we've been very aggressive in terms of capitalizing on
natural resources in a way that's environmentally-friendly, we've been
equally as diligent in running our operations in a manner that provides a
solid foundation for future growth. UN Ambassador Juan Avila, a Director
of the Company, continues to provide invaluable guidance in helping us in
achieving our ultimate objective of becoming a model for harvesting timber
without negatively impacting the environments in which the Company
operates. If recent indicators of global market demand are any prediction
of future growth, I can safely say ECOLOGIX has a bright future ahead of
it."
The Company cited leading market indicators for the increased demand
leading to its advanced revenue forecast. According to the ITTO
(International Tropical Timber Organization) approximately 60% of the
timber imported to the PRC (Peoples Republic of China) during 2008 was
through Cameroon, most being derived from the northern forest regions.
Most of this timber was destined for the EU (European Union). Many of the
concessions supplying this timber are certified by the FSC (Forest
Stewardship Council). During May 2009, the country signed a voluntary
partnership agreement with the EU to ensure that only legal timber would
be exported. In addition, during a recent speech made at the UN regarding
climates changes, Mr. Jia Zhibang, Administrator of the State Forest
Administration of China, said that the Chinese Government attaches
importance to the role of forests in mitigating climate change and has
already invested over US$70 billion in this field.
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
Copyright 2009, Market Wire, All rights reserved.
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