New Initiatives from Carbon Done Right
Carbon Done Right Developments Inc. (TSXV: KLX) is gearing up for an exciting phase of growth. The company, known for providing high-quality carbon credits exclusively sourced from afforestation and reforestation initiatives, is set to initiate a non-brokered private placement. This strategic move aims to raise up to $100,000 by offering common shares at a rate of $0.015 each.
Funding for Global Projects
The capital obtained from this offering is intended for ongoing investments into the company's diverse operational framework and supporting its ambitious projects across various regions. Recently, the CEO, Dr. James Tansey, participated in a significant event in Suriname that marked the launch of a substantial mangrove restoration endeavor. This project aims to rehabilitate approximately 5,000 hectares of severely degraded coastal land, aligning with the nation's sustainable development objectives while safeguarding critical zones against rising sea levels.
Update on Carbon Restoration Projects
Furthermore, the company's flagship forest carbon restoration project in Sierra Leone recently received validation under the Verra's new forest restoration protocol, VM0047. This development is crucial as it broadens Carbon Done Right's potential to attract financial backing for expanding its projects. Initially, a pre-purchase agreement allowed an Offtaker to invest in an area increase from 5,000 hectares to 25,000 hectares, though this option was declined. The company is actively seeking new partnerships to secure the necessary investments for future project requirements.
Upcoming Closing and Shares for Debt Settlement
It is anticipated that the private placement will conclude around May 26, pending the fulfillment of essential conditions including TSX Venture Exchange approvals. Additionally, the company is addressing an indebtedness of $165,768 (approximately US$120,000) to an arm's length creditor by offering 11,051,200 common shares at the same price of $0.015 each. This strategic decision allows Carbon Done Right to conserve cash for essential working capital while managing its obligations efficiently.
About Carbon Done Right
Carbon Done Right plays a pivotal role in managing nature-based carbon assets in response to the growing demand from businesses looking to achieve their Net Zero targets. With a firm commitment to environmental stewardship, the company engages in the exploration, restoration, and management of terrestrial and marine ecosystems. Its operations extend across various suitable regions worldwide, including Sierra Leone, Yucatan, Guyana, and Suriname, positioning it as a reliable partner in the global fight against climate change.
ON BEHALF OF THE BOARD OF DIRECTORS
“James Tansey”
James Tansey
Chief Executive Officer
For further information please contact:
Carbon Done Right Developments Inc.
James Tansey, Chief Executive Officer
Email: james.tansey@klimatx.com
Website: www.klimatx.com
Frequently Asked Questions
What is Carbon Done Right's primary business focus?
Carbon Done Right focuses on creating and managing high-quality carbon credits through afforestation and reforestation projects.
How much funding is Carbon Done Right aiming to raise?
The company plans to raise up to $100,000 through a non-brokered private placement.
What recent project was launched by Carbon Done Right?
A significant mangrove restoration project was recently launched in Suriname, targeting the rehabilitation of heavily degraded coastal land.
What innovative financial strategies is Carbon Done Right implementing?
The company is settling a portion of its debt by issuing common shares, helping preserve cash flow for essential operations.
How does Carbon Done Right contribute to environmental conservation?
By investing in and managing projects that enhance the sequestration of greenhouse gases, Carbon Done Right plays a crucial role in combatting climate change.
