Natural Blue Resources/Atlantic, Inc. Formed and First Contracts Signed

Natural Blue Resources/Atlantic, Inc. Formed and First Contracts Signed

Natural Blue Resources Inc. announced today that Natural Blue Steel / Atlantic, Inc. (“NBS Atlantic”) has been formed under the laws of the State of Delaware as a wholly owned subsidiary. The Company board of directors elected Joe Montalto and Sal Tecce to NBS Atlantic’s first board of directors and Mr. Montalto agreed to act as Chairman of the Board. The NBS Atlantic board appointed Sal Tecce to the position of President.

For its part, NBS Atlantic announced that it has entered into two new environmental restoration/ demolition contracts totaling $2.5 million dollars. These projects involve remediation of contaminated soil and ground water as part of a major infrastructure project taking place with the transit authority in Boston, MA. In addition, Mr. Tecce announced that NBS Atlantic was negotiating another $6 million dollars in demolition and soil remediation contracts in southern Massachusetts and Rhode Island. Should NBS Atlantic receive these contracts they would bring NBS Atlantic’s total expected revenue for the year to in excess of $50 million dollars.

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