GlobeNewswire Inc | Feb 24, 2021 08:06AM EST

February 24, 2021

MIAMI, FL, Feb. 24, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire-- Amazonas Florestal, Ltd. (OTC : AZFL)(azflamerica.com), a natural resources company dedicated to innovative, sustainable forest management, the certification and sales of carbon credits, andprocessingIndustrial Hemp, announcedtoday that theCompany has organized a new subsidiary in the State of Nevada named Green America Laboratories. The Companyalsoannounced that the new subsidiary brings together an important group of investors led by Mr. Raul Rocha Cantu, a Mexican businessman whosehomegroupowns and operatesthe largest private gamingestablishmentsin Mexico. GAL,as it has now been baptized, will be directed by AZFLs Company Chairman, Ricardo Cortez, in conjunction with Mr. Rocha Cantu and Mr. Alejandro Otero, also a Mexican businessman and land-ownerwho has also contributedwithimportant guarantees totheGAL Project.

As previously announced,Green America Laboratorieshas secured a facility in NW Miami-Dade County where the company will be building a top-of-the-line Hemp derived products lab. GAL has selected and ordered a new lab configuration with equipment manufactured by Precision Extraction Solutions of Troy, Michigan. Precision,widely considered the best USA manufacturer of solvent based cannabinoid extraction equipment, was founded byMr.Nick Tennant, world renowned as the USAs Extraction Guru.

Further, the Company announced that GAL hashired architects and engineers to design the lab layoutunder thetechnicaldirection ofMr.Grim Leadingham of WKU Consulting.Mr. Leadinghamand his team areaccredited with 100% effectiveness in the business, having helped built some of the largest bulk concentrates laboratorieson the west coast andwith a perfect 9 for 9 record in labs built and labs operating successfully. GALis expected to be operational sometime during the second trimester of this fiscal yearand willbecome the first of its kind this far southamong major USA based cannabinoid extraction operators.GALsstandardized operating proceduresaimto produce bulk T-Free concentratesand premium T-Free distillatesfor theemergingFlorida and Latin American Markets.

AZFLspresent boardalso announced that ithas officially appointed Carlos Martinez as its new CFO. Mr. Martinez brings more than 25 years of banking and financial experience, having directed several large financial institutions. The Company also announced that it has hired Mr. Jose Giron as General Manager to direct the Green America Laboratories project. Mr. Giron, has a masters degree in Finance and will be initially directing allofnew hiresat the GAL facilityand coordinating the Building Permits with Miami-Dade Countyand permits by FDACS. The Company stated further that several new appointments are in progress and will be announcedas applicants are being considered to occupy several key management positions to oversee thesenew operations.

Ricardo Cortez, Chairman of the Board of Amazonas Florestal Ltd., stated: These are new and exciting times for AZFL.After almost twoand a halfyearsin pursuit of the right business combination to bring our project tolife, thanks to the backing of our Mexican investorswithoutwhom these newoperations would not be possible, I can proudly state that the Company is well on its way to develop new and important operations this year and right here in our back yard, Miami-Dade County and the State of Florida. Cortez also stated, Under my direction, we are building the new management teams and I can assure our investors and shareholders that all of the elements are in place to make the GAL project a reality.I want to thank our followers and collaborators for their valuable support in helping to get this project on its way in an effective and positive manner. Wewill be following up with moreimportantupdates as the projectfurtherdevelops.

About Amazonas Florestal Ltd.

Amazonas Florestal Ltd. is a natural resources company dedicated to innovative, sustainable management of large tracts of land in the rainforests of Amazonas, Brazil, that include the certification and sale of carbon credits. In 2017, the Company shifted gears to focus onthe growth, harvesting, research and development of Industrial Hemp and related products in the U.S.A. and for the U.S. and Latin Markets. In 2021, the Company will build an important Hemp Oil Extraction facility in South Florida dedicated to the production of premium bulk cannabinoid extractions derived from Hemp and products that use these extractions as an active ingredient toHealth and Wellness products.

Headquartered in Miami, FL, Amazonas' goal is to become a leader infield of Cannabinoid Extractions serving labs that use these chemicals as a raw material for human and animal health and beauty products.

Disclaimer: Forward Looking Statements

Forward-looking statements in this release regarding Amazonas Florestal Ltd. are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, increased levels of competition, new products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.

Contact:

Amazonas FlorestalLtd.

Email:azflorestal@outlook.com

Website: http://azflamerica.com