VANCOUVER, BC, July, 26, 2023 /CNW/ - Klimat X
Developments Inc. ("Klimat X" or the "Company")
(TSXV: KLX) a company that carries on the business of
developing validated and verified carbon credits from afforestation
and reforestation of degraded land areas and marine ecosystems,
including mangroves, for sale into international voluntary carbon
markets, is pleased to announce the Company's support for and
recognition of the UNESCO International Day for the Conservation of
the Mangrove Ecosystem.
The company's operating partner in the State of Yucatan, CMCC is working with the
State Government and the Fundación Legorreta - Hernández to
celebrate this important day with a public event focused on
mangrove restoration projects. The event will be livestreamed for
those who wish to view at
https://web.facebook.com/Proyecto-Chaac-104208532763886 .
Klimat X is committed to the conservation and restoration of
global ecosystems through its operations in Sierra Leone, Yucatan, Mexico and Suriname. The company's
investment into these projects recognizes the critical role these
habitats play in sequestering carbon from the atmosphere,
maintaining biodiversity and protecting coastlines from sea level
rise. In Yucatán, the Company continues to work on a plan
focused on up to 25,000 ha of mangrove restoration, working with
local universities, the State Government, and local
foundations.
Klimat X CEO, James Tansey stated
'The global significance of mangrove ecosystems cannot be
overstated. These ecosystems store hundreds of tonnes of carbon
dioxide in every hectare and protect critical infrastructure on
coastlines from sea level rise and storm events. Our project will
invest in the restoration of mangrove areas that have been degraded
by human activity using carbon finance and given the huge areas
involved, this will become one of the most important projects on
Earth for proving how to reverse and restore these ecosystems.'
About Klimat X
Klimat X carries on the business of developing validated and
verified carbon credits from afforestation and reforestation of
degraded land areas and marine ecosystems, including mangroves, for
sale into international voluntary carbon markets. In contrast to
streaming and royalty companies, Klimat X works upstream as a
direct owner and operator of projects, addressing a key supply
constraint the current market and the rapidly growing demand for
carbon credits in global voluntary and regulated markets. The
Company intends to achieve this by investing in the exploration,
restoration and management of terrestrial and marine systems that
can either be protected to enhance the sequestration of greenhouse
gases or restored from a degraded status to fully productive
ecosystems. Klimat X will draw on the experience of a senior
executive team and board that provide access into key target
jurisdictions through relationships in the mining and natural
resources sectors, combined with decades of experience in carbon
markets. Klimat X plans to deploy capital at risk under various
arrangements (including cooperation, assignment, and production
sharing agreements) with large landowners and governments in
various suitable jurisdictions around the world.
On behalf of the Board of Directors
"James Tansey"
James Tansey
Chief Executive Officer
Cautionary Note Regarding Forward
Looking Statements
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
This press release contains forward-looking statements and
forward-looking information (collectively "forward looking
statements") within the meaning of applicable securities laws.
Any statements that are contained in this press release that are
not statements of historical fact may be deemed to be
forward-looking statements. Forward-looking statements are often
identified by terms such as "may", "should", "anticipate", "will",
"intends" "expects" and similar expressions which are intended to
identify forward-looking information or statements. More
particularly and without limitation, this press release contains
forward looking statements and information concerning the expected
revenues from the sale of carbon credits and the ongoing business
of the Company. Klimat X cautions that all forward-looking
statements are inherently uncertain, and that actual performance
may be affected by a number of material factors, assumptions and
expectations, many of which are beyond the control of Klimat X
including expectations and assumptions concerning the Company and
the sale of carbon credits. The reader is cautioned that
assumptions used in the preparation of any forward-looking
information may prove to be incorrect. Events or circumstances may
cause actual results to differ materially from those predicted as a
result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of Klimat X.
The reader is cautioned not to place undue reliance on any
forward-looking information. Such information, although considered
reasonable by management at the time of preparation, may prove to
be incorrect and actual results may differ materially from those
anticipated. Forward-looking statements contained in this press
release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release
are made as of the date of this press release, and Klimat X does
not undertake any obligation to update publicly or to revise any of
the included forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly
required by securities law. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
any securities in any jurisdiction.
SOURCE KLIMAT X Developments Inc.
