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IRONWOOD, Mich., Sept. 09, 2019 (GLOBE NEWSWIRE) -- Keweenaw Land Association, Limited (OTC US: KEWL) today announced the completion of the sale of a 14,342-acre conservation easement to the State of Wisconsin, Department of Natural Resources (“Wisconsin DNR”). This previously announced transaction closed today at a total sales value of $4.34 million, of which $0.40 million will be set aside in an endowment to be used for repairs and maintenance of 16 miles of eased roads on the property. The balance of $3.94 million has been wired to Keweenaw today. This easement eliminates future development and subdivision of the property but specifically permits forest management activities and timber harvesting.
Contact: Paula J. Aijala, Secretary, Keweenaw Land Association, Limited, firstname.lastname@example.org
About Keweenaw Land Association, Limited: Keweenaw is a forest products and land management company located in Ironwood, Michigan. Keweenaw has land holdings exceeding 183,000 surface acres and 400,000 acres of mineral rights, located predominantly in the western Upper Peninsula of Michigan and northern Wisconsin. Additional information is available on the Company's website at www.keweenaw.com.
Forward-Looking Statements: This release contains forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties and should not be relied upon as predictions of future events or promises of a given course of action. A number of factors such as changing economic conditions, price fluctuations, land use, environmental and other governmental regulations, and risk of loss from natural disasters, could cause actual results to differ materially from those described in the forward-looking statements. As with any investment, past performance is not a guarantee of future results. The Company is currently not subject to the filing requirements of the Securities Exchange Act of 1934, as amended. The Company is categorized as "Pink Current Information" under the OTC Pink Sheets.