(PRWEB) July 23, 2014
Nevis Capital Corporation (OTC: OCEE), is pleased to announce that they have signed a final agreement with Bougainville Development LLC, a Mississippi Limited Liability Company, to acquire a 50% ownership of Bougainville Development in an “all stock” transaction consisting of Nevis common stock. The principal asset of Bougainville is a wholly owned subsidiary, Tall J (PNG) Ltd. of Papua, New Guinea, that has the contractual rights with the Papua Government to harvest the timber and to explore and develop the underlying minerals on 255,000 acres in Section 1645. Bougainville has a current investment in excess of $4,000,000 USD in this project. Mr. Stephen Strauss, BD Director, estimates that production should commence within 12-15 months for delivery of finished materials to Asian markets. Surveys from ITTO estimate that this tract contains approximately 2.5 million cubic meters of timber valued at $1.3 Billion at current prices, generating estimated revenues of $37 Million annually over a 35 year production and reforestation cycle. The Papua Government has endorsed the economic growth and development of their natural resources. A major international energy company has recently announced they had invested $19 Billion in Papua, NG, building one of the largest Liquid Natural Gas (LNG) projects in the world which began shipments in May with anticipated annual revenues of $7.2 billion.
Nevis Capital expects the operational profits from their Bougainville investment, the previously announced US producing oil and gas investment and expansions thereof, the Macau Live Online Gaming investment, and initiatives to acquire interests in profitable Medical Marijuana ancillary product producers to rapidly increase shareholder value for this development stage holding company.
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