IRONWOOD, Mich., Jan. 11, 2021 (GLOBE NEWSWIRE) — Keweenaw Land Association, Limited (OTC US: KEWL) announced today that it closed on the sale of a motorized recreational trail easement to the State of Michigan on December 31, 2020.
Under the terms of the sale the State paid Keweenaw $832,968 to acquire permanent easement rights on approximately 53 miles of existing motorized recreational trails on Keweenaw property in Upper Michigan. These trails have historically been used for snowmobiling under annual use agreements between Keweenaw and the Michigan Department of Natural Resources. The easement eliminates the need for annual use agreements and guarantees public trail access into perpetuity. Keweenaw retains the right to use the trails as needed for business purposes, including logging, and to re-route or temporarily close trails as needed for safety purposes.
Contact: Paula J. Aijala, Secretary, Keweenaw Land Association, Limited, email@example.com
About Keweenaw Land Association, Limited: Keweenaw is a forest products and land management company located in Ironwood, Michigan. Keweenaw has land holdings exceeding 183,000 surface acres and 401,000 acres of mineral rights, located predominantly in the western Upper Peninsula of Michigan and northern Wisconsin. Additional information is available on the Company’s website at www.keweenaw.com.
Forward-Looking Statements: This release contains forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties and should not be relied upon as predictions of future events or promises of a given course of action. A number of factors such as the ongoing Covid-19 pandemic, changing economic conditions, price fluctuations, land use, environmental and other governmental regulations, and risk of loss from natural disasters, could cause actual results to differ materially from those described in the forward-looking statements. As with any investment, past performance is not a guarantee of future results. The Company is currently not subject to the filing requirements of the Securities Exchange Act of 1934, as amended. The Company is categorized as “Pink Current Information” under the OTC Pink Sheets.