BEVERLY HILLS, CA -- 11/06/09 --
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 have been very aggressive in terms of capitalizing on
natural resources in a way that's environmentally-friendly, we have 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
