IRONWOOD, Mich.--(BUSINESS WIRE)--Keweenaw Land Association, Limited (KEWL: OTC Pink) has announced the purchase of approximately 4,980 acres of timberland in the western Upper Peninsula of Michigan for $5.487 million.
The property is comprised of high-quality northern hardwoods that have been well-managed and is located in a very strong timber market. The property also includes a significant volume of high-quality merchantable timber, which can be harvested over the next few years.
The acquisition is part of Keweenaw’s strategy of acquiring and managing quality timberland properties in the Lake States Region for long-term growth and capital appreciation. With this acquisition, Keweenaw will own and manage over 167,000 acres in the western Upper Peninsula of Michigan and northern Wisconsin.
About Keweenaw Land Association, Limited: Keweenaw is a forest products and land management company located in Ironwood, Michigan. Keweenaw has land holdings of approximately 167,000 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. For additional information, please visit the Company’s website at www.keweenaw.com.