March 19, 2007 - Sakha Enterprises in Advanced Stages of Due Diligence
Regarding Russian Timber Harvesting Acquisition for Yakutian Project....
Toronto, Canada (March 19, 2007) Sakha Enterprises Corporation (OTC: SAKH.PK) is pleased to announce that due diligence and negotiations regarding the purchase of a timber harvesting company in the Russian Federation, are advancing rapidly, with a view to completing an acquisition before yearend. Upon completion of a prospective acquisition, Sakha Enterprises’ planned operations – the Yakutia Project – will emphasize sustainable development, long term planning and ecosystem diversity while maximizing timber recovery and productivity.
The Yakutian Project
Through the impending acquisition of a Russian forest products company having extensive, largely untapped timber rights in the region, Sakha Enterprises intends to ramp up production rapidly to take advantage of the opportunity to export large volumes of timber to Asian markets, particularly China. Additional project details are available on the Company’s website: www.sakhaenterprises.com
Acquisition a Key Step Forward
“The anticipated acquisition of an operating forest products company in the large, timber-rich Russian Federation will be the first major step toward realizing the Company’s intention to become a significant player in the Russian timber harvesting industry in the foreseeable future.”
- Franz Dobnik, President - Sakha Enterprises. China Timber Demand to Rise
A recent report concludes that, with China’s massive population and economic growth, the import demand for timber and other forest products is only set to rise. The study ‘China’s Wood, Trade and the Environment’, published recently, points out that a high proportion of China’s wood imports come from Russia, Malaysia and Indonesia. With the globe’s largest inventories of mature timber, Russia is expected to gain an increasing share of global timber markets in the years ahead.
Sakha Enterprises Corporation 1 First Canadian Place, Suite 350,
Toronto, Canada, M5X 1C1
FOR FURTHER INFORMATION, CONTACT:
Franz Dobnik, President
Phone: (416) 830-0905
Email: fdobnik@sakhaenterprises.com
Website: http://www.sakhaenterprises.com/
In compliance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, Sakha notes that statements contained in this announcement that are not historical facts may be forward-looking statements that are subject to a variety of risks and uncertainties. Accordingly, Sakha wishes to caution readers of this announcement that its future actual results may differ materially from those that any forward-looking statements may imply. There is no assurance the above-described events will be completed. There can be no assurance of the ability of the Company to achieve sales goals, obtain contracts or financing, consummate acquisitions or achieve profitability in the future.
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