Coast Tsimshian Resources, Intelligent Living sign MOU targeting First Nations housing needs, offshore opportunities for modular housing, aim for revenue stream of C$20M/year by May 2014
VANCOUVER, British Columbia
July 30, 2012
– Intelligent Living Corp. ("ILVC"), (ILVC), a leading supplier of green building solutions and innovative home automation and control technology systems, today announced the signing of a memorandum of understanding ("MOU") with Coast Tsimshian Resources LP ("CTR") (http://ctrlp.ca) targeting First Nations and offshore markets for the Company's modular homes and emergency shelters. The MOU outlines time frames and conditions for the establishment of a three year business plan and the corporate structure required to achieve revenue targets.
Much of Canada's west coast forestry activity takes place on First Nations land and First Nations owned companies have become key players in the wood supply chain both domestically and in export markets, particularly in Japan, South Korea and China. The Canadian Mortgage and Housing Corporation and the National Aboriginal Housing Association have estimated the immediate sustainable demand for First Nations housing in British Columbia at over 20,000 units per year. In 2010, the Company began discussions with the Lax Kw'alaams community with a view to establishing a working relationship targeting First Nations housing needs and offshore market opportunities for modular housing. These discussions resulted in today's announced signing.
"Early in our evaluation of the business opportunity, it became very clear that a strong working partnership with the First Nations would be mutually beneficial, add value to existing export channels, and provide a firsthand perspective on supplying housing to First Nations communities," said Michael Holloran, CEO. "Our relationship with CTR and the Lax Kw'alaams band goes back several years, and their control over the largest forest tenure in northwestern BC, combined with their business reach and export experience, makes them an ideal partner. We are targeting an annual revenue stream of $20 million by May 2014. This represents less than 1.5% of the sustainable First Nations housing demand without contribution from off shore opportunities."
Intelligent Living Corp., a leading provider of green building solutions, specializes in multi-strata property renovation and development, home and commercial automation systems and development and supply of small footprint, energy efficient housing for First Nations communities and emergency relief. Founded in 1994, ILVC is a member of the Canadian Green Building Council.
About Coast Tsimshian Resources
Coast Tsimshian Resources LP ("CTR") is an integrated forestry company owned by the Lax Kw'alaams First Nation. CTR, with headquarters in Terrace British Columbia, holds the largest forest tenures in northwestern British Columbia with a combined allowable annual cut of over 550,000 m3, owns and operates a log sort yard in the community of Terrace, operates a debarking facility in the community of Prince Rupert, maintains an export office in Beijing China, exports logs into the Asian market, sells timber into the domestic market and is developing a custom cut saw mill and pellet operation.