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This Company Blog post might contain information, which may constitute ‘forward-looking statements’ within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. ‘Forward-looking statements’ are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated.

Any forward-looking information provided in this post should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained below.


 

We have been informed that our land use application for the Cielo Mar project has been approved by the Mexican government. We are told to expect written confirmation by personal courier at our office in Ensenada this week, after which, we will make a formal announcement with further details.

Applications involving a change from rustic agrarian land to real estate land, such as the process we have gone through for Cielo Mar, are evaluated and approved by Mexico’s environment ministry, SEMARNAT (Secretaría del Medio Ambiente y Recursos Naturales), the Secretariat of Environment and Natural Resources. SERMANAT is responsible for the protection, restoration, and conservation of the ecosystems, natural resources, assets and environmental services of Mexico, with the goal of fostering sustainable development.

We can say now that we know, first-hand, the Cielo Mar project has the support of the governments of Baja California and Mexico at the highest levels. We can elaborate further on this at a later time, but our meetings with top officials confirmed, without a doubt, what we have also related in our blog and published materials, regarding the Mexican government’s strong interest in further developing the tourism industry in Baja California, an important part of which requires private investment in projects especially like Cielo Mar on the Pacific Coast. For more information about this, see our comments regarding Baja California tourism and Escalera Nautica in our feasibility overview for the project, that we published to the website on February 7, 2019.