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Green Earth Africa announces merger and the expansion of the worlds largest private game concession and the worlds largest privately held carbon /mitigation bank


Singapore, Wednesday 5th May 2010. Nick Havercroft, the President of Green Earth Africa, an environmental offset and renewable resources company with interests in forests, game concessions, safari parks and timber plantations throughout Sub Saharan Africa announced today the acquisition of a majority stake in the Singapore based company Waverly (PTY) Ltd. Waverly holds a majority share in the Angolan based Luiana Tourismo and Safari Angola Ltd (LTSA), a company with interests in Safari, wildlife management, agriculture and demining activities . LTSA has a 25 year renewable lease on what will be the world’s largest privately held safari game reserve. LTSA have engaged a leading US Agrarian Research company to complete the due diligence, tree verification for REDD approval to allow Green Earth Africa to trade on the verified markets as well as the voluntary markets, species verification for wildlife mitigation/trading and the environmental impacts on any developments of the concession .The US based team left the Luiana concession Tuesday 4th May and will finalise the initial 300 page report within the next few weeks. Upon completation and acceptance of the report, funding for the development of the world’s largest game park, amounting to US$200 million will be released with a one percent commitment fee paid upon signature. The signing ceremony will be held in Luanda, Angola in early June and Boards of Green Earth Africa, LTSA, Government officials and representatives of the worlds press will be present. The signing ceremony will be followed by a site visit to the Luiana game concession which will include the opening of the new border post which will allow easy trans-frontier crossing into the park from Victoria Falls, The Okavango Delta and the Caprivi Strip, all popular tourist destinations and serviced by daily international flights. Nick Havercroft and Stephen Muza, both from Green Earth Africa will sit on the board of LTSA which will be chaired by Stephen.
In addition to the Luiana concession, LTSA has recently secured the bordering concessions of Mavinga Cutada , in excess of 3 million hectares and Mucusso Cutada which is 2.5 million hectares, to be incorporated into LTSA and the Luiana concession and on both of which Green Earth Africa will have exclusivity on all mitigation and offsets trading. With this increased carbon/mitigation bank further job creation, poverty alleviation and community development will be enhanced which in turn will lead to less illegal poaching, wildlife trafficking and illegal logging activities. With the addition of these concessions LTSA/Green Earth Africa will now border the Kavango Transfrontier Park, which is the world’s largest national Park spanning across Zimbabwe, Zambia, Namibia, Botswana and Angola.
“Although it is an ambitious project and covers a vast area of unspoilt Africa, Green Earth Africa, working alongside the management of LTSA and local communities, our vision, management skills and local knowledge will ensure that this will be a success, not only financially but environmentally. People are waking up to the fact that damage to the environment takes a few days to destroy and decades to fix. Look at the environmental disaster in the Gulf of Mexico in the space of two weeks, all caused from one little hole drilled by a mega rich oil company in their quest for further profits to satisfy the worlds thirst for oil,” says Havercroft. “Corporations and individuals should return some of these profits into protecting what little areas of unspoilt environmental havens that remain to offset the damage caused by business and individual lifestyles, and we down here in Southern Africa have the majority of these areas. Unfortunately, red tape, understaffing and inhibitive costs of REDD approval , which typically costs up to US$700 000.00 to verify a few hectares of forests and takes several years on the waiting list is killing the potential trade in carbon offsets in Africa. Very few start up companies have the financial resources and time to sit around and wait for the western world , who are the main causers of climate change to make up the rules and regulate the countries which have the assets to prevent and reverse climate change. Green Earth Africa has the largest carbon and mitigation bank in the world and over the next few years will have one of the greatest impacts in the region on community development, education and job creation by reversing the trend of stripping Africa of its resources to protecting its resources”


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