SEEL

Seelos Therapeutics, Inc.

0.5003
USD
-5.60%
0.5003
USD
-5.60%
0.4500 3.4400
52 weeks
52 weeks

Mkt Cap 17.75M

Shares Out 35.51M

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National Storm Recovery, Inc. Granted Approval for 100 Acre Facility in Lake County

ORLANDO, Fla., Jan. 07, 2020 (GLOBE NEWSWIRE) -- National Storm Recovery Inc. (NSRI) (“National Storm” or “NSRI”) is pleased to announce that, after a series of successful hearings without opposition, the City Council in Astatula, Florida, granted final zoning approval for the Company’s 100 acre facility located in Lake County, Astatula, at 24200 CR 561. Most efforts of this nature are extremely time consuming and met with significant opposition from the community. In this case however, the Company believes that the complete lack of opposition and the City Council’s quick approval is an endorsement of its vision for the environmental solutions the Company offers to the community and enthusiastic acceptance of its plan of operations. This approval represents a significant step forward in the implementation of the Company’s business plan. With its prime location and 5000 square foot building containing warehouse and office space, this 100 acre site is ideal for the Company’s purposes; it is being prepared to serve as its flagship tree debris collection site, mulch manufacturing facility, soil composting and production bagging site, and it will also serve as the Company’s corporate headquarters. In addition, the Company plans to use the property (which can accommodate millions of cubic yards of organic storm debris) for collection and storage of storm debris during hurricanes and other storms, which it will then process and recycle into organic, next-generation mulch products. This addition to the Company’s growing list of such sites will create an opportunity for the Company to increase its revenues and earnings from the fees it receives from receiving new incoming debris from Lake County customers who pay for disposal, as well as the cost savings realized by using that debris as feedstock to create organic, next-generation mulch products. Further, this is a prime location as a collection site and it will allow the Company’s debris hauling division to save significantly on its transportation costs.


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