| Cathay Forest Clarifies Poyry Forestry Valuation Report |
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Cathay Forest Products Corp., ("Cathay Forest") (TSX VENTURE:CFZ) recently released a forest valuation report prepared
by Poyry Forest Industry Consulting Ltd ("Poyry"), an international
forestry consulting firm. The report was commissioned by Cathay Forest to
provide an independent assessment of the entire managed forestry assets
portfolio, which includes the minority interest of Cathay Forest's various
business partners. Cathay Forest's interests in its forestry operating
subsidiaries is described below.
Poyry's valuation composed of the following asset classes for the entire managed forestry assets portfolio:
The following table provides a description of Cathay Forest's interest in each of its forestry operating subsidiaries:
The complete Poyry valuation report is available on Cathay Forest's website (www.cathayforest.com) as well as SEDAR (www.sedar.com). About Cathay Forest Products Cathay Forest is a forest products company that manages approximately 1,000,000 hectares of standing timber properties and fast-growth, high-yield poplar plantations in China and Russia. Cathay Forest is building a world-class forest products company through a customer base that includes the domestic Chinese pulp and paper industry and other wood products customers in the Japanese market. About Poyry Forest Industry Consulting Ltd Poyry is a global expert in consulting and engineering. Offering in-depth industry expertise, innovative solutions and lifecycle engagement. Poyry's knowledge extends across hydropower, oil and gas, power and heat, renewable energy, pulp and paper industry, chemical process industry, transportation, water and environment, and construction services. Poyry is recognized as one of the world's leading advisors to the global forestry industry. Forward-Looking Statements All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of Cathay Forest. Actual results and future events could differ materially from those anticipated in such statements. Cathay Forest assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change. (1) Held through DalEuroLes LLC (2) Cathay Forest has the right to use 96.7% of the Jiangsu fast growth plantation under the relevant land lease agreements. In lieu of paying annual rent, Cathay Forest shares the harvest equally with the lessors. Accordingly, Cathay Forest's effective beneficial ownership interest is 48.5%. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this release. |
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