SOURCE: BluForest Inc.

BluForest Inc.

July 11, 2012 22:39 ET

BluForest Inc. Announces LOI With the Commonwealth of Northern Ecuador for Rights to Carbon Credits From 1.5 Million Hectares of Lands

QUITO, ECUADOR--(Marketwire - Jul 11, 2012) - BluForest Inc. (OTCBB: BLUF) (OTCQB: BLUF) ("BluForest" or the "Company") is pleased to announce that it has entered into a Letter of Intent ("LOI") with the Commonwealth of Northern Ecuador wherein BluForest will be granted the rights to carbon credits developed from 1.5 Million hectares of the Commonwealth's lands. Upon certification to REDD+ standards, the LOI assures BluForest a minimum of 3.4 Million carbon credits annually for a period of five years and contemplates a further five year period pending mutual consent.

About the Properties

The Commonwealth of Northern Ecuador is comprised of four Northern provinces including Sucumbios, Carchi, Imbabura and Esmeraldas covering a total landmass of approximately 4.2 million hectares. Some of the most pristine rainforests in the world are located throughout the Northern provinces and their preservation is a key element of BluForest's business objectives.

On announcing the development of this LOI, Mr. Charlie Miller -- CEO of BluForest Inc., stated: "The development of this LOI between BluForest and the Commonwealth of Northern Ecuador is another clear demonstration of the strong relationships and trust that has been developed between us. The REDD+ standards for carbon credits that we'll develop from these properties will provide a great opportunity to preserve pristine rainforests and their biodiversity while also making vital contributions to the local governments and communities. This is another tangible indicator of our ability to execute our business plans which remain focused on fostering strong partnerships with governments, local municipalities and indigenous peoples," added Miller.

Terms of the LOI

Under the terms of the LOI, BluForest is granted an option to acquire a minimum of 3.4 Million REDD+ certified carbon credits in each of the next five years under a revenue sharing agreement between BluForest and the Commonwealth of Northern Ecuador. BluForest will assist in completing the REDD+ certification of the properties by advancing funds which will later be recovered through the sale of REDD+ carbon credits. 

It is intended by the parties that the LOI will be superseded by a formal agreement within twenty-one days upon completion of due diligence by the parties. BluForest will provide further updates and details of the commercial arrangements by way of news releases and regulatory filings when a formal agreement is signed.

About BluForest Inc.

BluForest Inc. is a development stage company that is a publically traded carbon offsets marketing company. BLUF is executing its strategy to become a leading marketer of carbon offsets in the voluntary markets under the UN principle of Reducing Emissions from Deforestation and forest Degradation. The BluForest website provides further information about the company which prospective investors are encouraged to visit.

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Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current filings and consult a registered broker dealer or contact the financial industry regulatory authority ("FINRA") for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

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