Pardee Resources Company Retains West Virginia Timber Properties
Pardee Resources Company (OTC: PDER) has announced the conclusion of its marketing initiative for approximately 47,000 acres of hardwood timberland in central and southern West Virginia without completing a sale. The company received multiple offers for the timber properties but deemed none of them acceptable.
President and CEO Carleton P. Erdman stated that the company will continue to manage these properties for shareholder benefit. The decision comes after a strategic review of the potential sale opportunities, with the company ultimately choosing to maintain ownership of these significant timber assets.
Pardee Resources Company (OTC: PDER) ha annunciato la conclusione della sua iniziativa di marketing per circa 47.000 acri di terreni boschivi di latifoglie nel centro e nel sud della Virginia Occidentale senza completare una vendita. L'azienda ha ricevuto diverse offerte per le propriet脿 forestali, ma nessuna 猫 stata ritenuta accettabile.
Il presidente e CEO Carleton P. Erdman ha dichiarato che la societ脿 continuer脿 a gestire questi terreni a beneficio degli azionisti. La decisione arriva dopo una revisione strategica delle opportunit脿 di vendita potenziali, con l'azienda che ha infine scelto di mantenere la propriet脿 di questi importanti beni forestali.
Pardee Resources Company (OTC: PDER) ha anunciado la conclusi贸n de su iniciativa de comercializaci贸n de aproximadamente 47,000 acres de tierras boscosas de madera dura en el centro y sur de Virginia Occidental sin concretar una venta. La empresa recibi贸 m煤ltiples ofertas por las propiedades madereras, pero ninguna fue considerada aceptable.
El presidente y CEO Carleton P. Erdman declar贸 que la compa帽铆a continuar谩 gestionando estas propiedades en beneficio de los accionistas. La decisi贸n se tom贸 tras una revisi贸n estrat茅gica de las oportunidades de venta potenciales, optando finalmente por mantener la propiedad de estos importantes activos forestales.
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Pardee Resources Company (OTC : PDER) a annonc茅 la fin de son initiative marketing concernant environ 47 000 acres de terres foresti猫res feuillues dans le centre et le sud de la Virginie-Occidentale sans conclure de vente. La soci茅t茅 a re莽u plusieurs offres pour ces propri茅t茅s foresti猫res, mais aucune n鈥檃 茅t茅 jug茅e acceptable.
Le pr茅sident-directeur g茅n茅ral Carleton P. Erdman a d茅clar茅 que l鈥檈ntreprise continuerait 脿 g茅rer ces propri茅t茅s au b茅n茅fice des actionnaires. Cette d茅cision intervient apr猫s un examen strat茅gique des opportunit茅s de vente potentielles, la soci茅t茅 ayant finalement choisi de conserver la propri茅t茅 de ces actifs forestiers importants.
Pardee Resources Company (OTC: PDER) hat den Abschluss seiner Marketinginitiative f眉r etwa 47.000 Acres Laubholzforstfl盲chen in Zentral- und S眉dwest-Virginia ohne Verkauf bekannt gegeben. Das Unternehmen erhielt mehrere Angebote f眉r die Holzgrundst眉cke, hielt jedoch keines davon f眉r akzeptabel.
Pr盲sident und CEO Carleton P. Erdman erkl盲rte, dass das Unternehmen diese Grundst眉cke weiterhin zum Nutzen der Aktion盲re verwalten werde. Die Entscheidung erfolgte nach einer strategischen 脺berpr眉fung der potenziellen Verkaufschancen, wobei das Unternehmen letztlich beschloss, das Eigentum an diesen bedeutenden Forstverm枚gen zu behalten.
- Retention of valuable 47,000-acre timber asset portfolio
- Multiple offers received indicating market interest in the properties
- Maintained strategic control over significant natural resource assets
- Failed to monetize substantial timber assets despite marketing efforts
- Potential missed opportunity for immediate capital realization
In addition to historical statements, this press release contains statements relating to future events and our future results.聽 These statements are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995.聽 While these forward-looking statements represent our judgments and future expectations concerning our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations.聽 These factors include, but are not limited to, difficult economic conditions and other risks and uncertainties.聽 As a result, these forward-looking statements may turn out to be incorrect. We are under no obligation to (and expressly disclaim any obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise.
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SOURCE Pardee Resources Company
FAQ
What happened to Pardee Resources' (PDER) West Virginia timber property sale initiative?
How many acres of timberland did PDER attempt to sell in West Virginia?
Why did Pardee Resources (PDER) decide to retain its West Virginia timber properties?
What is Pardee Resources' plan for its West Virginia timber properties after the failed sale?
