The Baccala Ranch Reforestation Stream is the third stream under its previously announced project pipeline streaming agreement with Mast, to advance its pipeline of post-wildfire reforestation projects in the
Baccala Ranch Reforestation Stream
Under the terms of the Baccala Ranch Reforestation Stream, the Company will make an initial upfront deposit of
Proceeds from the Baccala Ranch Reforestation Stream are expected to be used for on-the-ground project implementation activities, including site preparation and planting. Baccala Ranch is significant for its high conservation value and notable intersection with the Pacific Crest trail, providing habitat for local fauna including black bears, mule deer, and bald eagles. Reforestation of Baccala Ranch will also reduce sedimentation, improve water quality and enhance hydrologic function of the Lake Almanor Watershed.
Sheep Creek Reforestation Project Update
Indonesian Regulatory Updates
Following the issuance in 2022 of Regulation No. 21 of 2022 ('Reg 21') - the Indonesian carbon regulation, in 2023 the
Verra Updates
On
Verra further reported that it anticipates releasing revised modules for Avoided Planned Deforestation activities in peatlands under the VM0007 REDD+ Methodology Framework (REDD+MF) by the end of Q1 2024, and is aiming to complete a new standalone methodology for tropical peatlands by the end of 2024.
The VM0004 carbon credit methodology has historically been used at the Rimba Raya project for carbon credit validation and verification. As previously announced, the Rimba Raya project was validated under Reg 21 and with the government-operated carbon registry, Sistem Registri Nasional Pengendalian Perubahan Iklim ('SRN'). In
The Company believes that Verra's routine inactivation of the methodology currently has no implications for the Rimba Raya project.
For a comprehensive discussion of additional risks, assumptions and uncertainties that could impact the Rimba Raya project and the Company's Rimba Raya stream, including without limitation, other Indonesian regulatory developments, investors are urged to review the section of the Company's Annual Information Form dated as of
Nalgonda Rice Farming Project Update
About
The Company's focus is on projects that have a positive impact on the environment, local communities, and biodiversity, in addition to their carbon reduction or removal potential. The Company has carbon credit streams and royalties related to over 20 projects around the world, including high-integrity removal, reduction and avoidance projects from nature-based, agricultural, engineered and community-based methodologies.
Contact:
President & Chief Executive Officer
Tel: 647.846.7765
Email: info@carbonstreaming.com
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information (collectively, 'forward-looking information') within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking information, including, without limitation, statements regarding the timing and the amount of future carbon credit generation and tCO2e removals from the Company's stream projects; registration, timing and the amount of future carbon credit issuances from the Company's stream projects; expected use of proceeds from stream agreements; the impacts of the
When used in this news release, words such as 'estimates', 'expects', 'plans', 'anticipates', 'will', 'believes', 'intends', 'should', 'could', 'may' and other similar terminology are intended to identify such forward-looking statements. This forward-looking information is based on the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. They should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. Factors that could cause actual results or events to differ materially from current expectations include, among other things: volatility in prices of carbon credits and demand for carbon credits; change in social or political views towards climate change and subsequent changes in corporate or government policies or regulations and associated changes in demand for carbon credits; limited operating history for the Company's current strategy; risks arising from competition and future acquisition activities; concentration risk; inaccurate estimates of growth strategy, including the ability of the Company to source appropriate opportunities and enter into stream, royalty or other agreements; dependence upon key management; reputational risk; general economic, market and business conditions and global financial conditions, including fluctuations in interest rates, foreign exchange rates and stock market volatility; uncertainties and ongoing market developments surrounding the validation and verification requirements of the voluntary and/or compliance markets; failure or timing delays for projects to be registered, validated and ultimately developed and for emission reductions or removals to be verified and carbon credits issued (and other risks associated with carbon credits standards and registries); foreign operations and political risks including actions by governmental authorities, including changes in or to government regulation, taxation and carbon pricing initiatives; due diligence risks, including failure of third parties' reviews, reports and projections to be accurate; dependence on project partners, operators and owners, including failure by such counterparties to make payments or perform their operational or other obligations to the Company in compliance with the terms of contractual arrangements between the Company and such counterparties; failure of projects to generate carbon credits, or natural disasters such as flood or fire which could have a material adverse effect on the ability of any project to generate carbon credits; volatility in the market price of the Company's common shares or warrants; the effect that the issuance of additional securities by the Company could have on the market price of the Company's common shares or warrants; global health crises, such as pandemics and epidemics, including the COVID-19 pandemic and the other risks disclosed under the heading 'Risk Factors' and elsewhere in the Company's Annual Information Form dated as of
Any forward-looking information speaks only as of the date of this news release. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
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