Indigenous Global Receives Independent Corporate Valuation from Wilson Associates
SAN FRANCISCO–(BUSINESS WIRE)–March 25, 2004
Indigenous Global Development Corporation (OTCBB:IGDC), the first and only majority owned and publicly traded Native America company in the U.S., today announced it received an independent corporate fair market valuation on its corporate common stock from John Wilson of Wilson Associates located in San Francisco. The appraiser’s valuation opinion estimates the target price of IGDC’s Common Shares as of March 23, 2004 to be in the $13 to $16 range.
Wilson Associates based the valuation on the projected pro forma cash flows of Indigenous Global’s projects including its sale of Canadian First Nations natural gas into the U.S. with revenues that range from $78 million to $300 million in the first year. Other projects reviewed include the innovative Mag Power wind electrical generation product with projected revenues in excess of $200 million in its first year of operation.
“We are pleased that our natural gas program assists the president in reaching his goal of increasing natural gas resource purchases from Native American sources,” says Deni Leonard, Chairman and Chief Executive Officer, Indigenous Global Development Corporation. “Being able to provide electrical energy to rural residents though our Mag Power wind programs is also exciting. These two programs provide us with a means to help the United States find cost effective sources of energy.”
About Indigenous Global Development Corporation
Indigenous Global Development Corporation (IGDC) is the first majority owned publicly traded Native American corporation. IGDC’s goal is to provide strategy, financial and investment tools to deliver economic development, empowerment and financial self-sufficiency for Native Americans across the U.S. and for indigenous people worldwide. Investment financing, tribal energy creation and pharmaceutical development for Native American communities are its primary tools to create positive change in Indian Country. Its parent company is United Native Depository Corporation. You can find more information about Indigenous Global and United Native Depository Corporation at www.igdc1.com and www.undc1.com.
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