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Foresta is pleased to announce that it has signed a Term Sheet with Ground Base Solutions Ltd (“GBS”)
for the supply of approximately 100,000 tonnes of stumps per annum for Foresta’s proposed
manufacturing facility at Rotorua, New Zealand (Facility). The Term Sheet will be conditional upon the
Company constructing and commissioning the Facility (Condition Precedent) and the term of the Term
Sheet will be five (5) years from the date of satisfaction or waiver of the Condition Precedent.
This supply arrangement represents approximately 50% of Foresta’s required annual feedstock for the
Rotorua processing plant. The remaining 50% of feedstock is expected to come from logs sourced from
annual harvesting in the local region.
Foresta welcomes GBS as an important strategic business partner and to be a part in the company’s growth
and long-term business goals.