GlobeNewswire Inc | Jul 8, 2021 09:06AM EDT

July 08, 2021

Miami, FL, July 08, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire--Amazonas Florestal, Ltd. (OTC:AZFL) Management has confirmed the acquisition of Innova Consulting Group and Gamma Engineers & Consultants. Both of these companies are now owned by AZFL under the terms of the acquisition agreements executed this week by Chairman/CEO Ricardo Cortez and the owners of both companies.

Innova Consulting Group, headquartered in Cali, Colombia (www.innovacg.com.co) operates in the Information Technology and Solutions sector, focused on creating programs and software solutions for the cannabis industry. Innovas app design, strategic planning and manufacturing software will be essential to Amazonas future business plans. Innova accomplished sales last yearof nearly $1MM in services having grown two fold in the last three years with net earnings of nearly 30% after taxes.

Gamma Engineers & Consultants (www.gammaingenierosyc.com.co), also headquartered in Cali, Colombia, is an Engineering and Design firm that is highly specialized and in the field of cannabis cultivation and processing facilitiesmainly operating in the design and installation of organic grow facilities both in greenhouse and indoors, serving the rapidly growing local Cannabis Industry in Southern Colombia. Gammas fully integrated design team and technical expertise will further expand AZFLs vision of designing and building grow facilities around the world.

Amazonas Florestal CEO Ricardo Cortez stated: As we announced the memorandums of understanding last week, Amazonas Florestal has now finalized the acquisition of Innova Consulting Group and Gamma Engineers & Consultants. The Board of Directors and myself are fully confident that these companies will further extend our presence and scope of work in the global cannabis industry. We are evolving into a big player in the hemp space and both of these companies bring us a step closer to our goala vertically integrated cannabis company.

About Amazonas Florestal Ltd.

Amazonas Florestal Ltd is a natural resources company dedicated to the research and developmentof innovative projects to process Industrial Hemp in legal cannabinoid concentrations into high CBD, T-Free and Delta-8 products. The Company also promotes the sustainable management of large tracts of land in the rainforests of state of Amazonas, in Brazil, and projects the certification and sale of carbon credits registered from the preservation of rain forest properties. In 2017, the Company shifted gears to focus on the growing, harvesting, research and development of Industrial Hemp and related products in the U.S.A. for both domestic and international markets. In 2021, the Company is building an important Hemp Derived Extraction facility in South Florida dedicated to the production of premium bulk T-Free cannabinoid extractions derived from Hemp and products that use these extractions as an active ingredient for Human and Animal Health and Wellness.

Headquartered in Miami, FL, Amazonas Florestals goal is to become a leader in field of Cannabinoid Extractions serving labs that use these chemicals as a raw material for human and animal consumption in 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 Florestal Ltd.

Email:info@azflamerica.com

Website: http://azflamerica.com