Keweenaw Land Association, Limited Announces the Release of the 2012 Annual Report
IRONWOOD, Mich.--(BUSINESS WIRE)-- Keweenaw Land Association, Limited (KEWL: OTC Pink) today announced the release of the 2012 Annual Report which is now available on its website at www.keweenaw.com. Contained in the Annual Report are the results of an independent appraisal conducted in December 2012 by Steigerwaldt Land Services of Tomahawk, Wisconsin. Approximately every three years since 1998, Keweenaw has engaged the services of an independent, certified, general appraisal firm to perform a third-party evaluation of the company's land and timber assets. An executive summary of the 2012 appraisal provided to management by Steigerwaldt Land Services is also available on Keweenaw's website.
David Ayer, Chairman, stated, "We are pleased to report that according to the appraisal, our timber value and the overall asset value have increased by over 14% and 8%, respectively, from such values reflected in a Steigerwaldt appraisal conducted in 2009." Also adding, "We continue to be appreciative of the support we have received from our shareholders over the years. As the company moves forward, we will continue to manage your assets ethically for long-term appreciation."
About Keweenaw Land Association, Limited: Keweenaw is a forest products and land management company located in Ironwood, Michigan. Keweenaw has land holdings of approximately 162,000 surface acres and over 400,000 acres of mineral rights, located predominantly in the western Upper Peninsula of Michigan. Keweenaw shares trade in the OTC Markets under the Pink directory with 1,294,118 shares outstanding.
Keweenaw Land Association, Limited
James J. Simmons, Jr., Controller/Treasurer
KEYWORDS: United States North America Michigan
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