U.S. Feather River Dome Reforestation Project in Butte County,
California
Carbon Streaming Corporation (NEO: NETZ) (OTCQB:
OFSTF) (FSE: M2Q) (“Carbon Streaming” or the
“Company”) is pleased to announce that it has entered into a
streaming agreement with Mast Reforestation SPV I, LLC
(“Mast”), for the Feather River Dome project (the
“Feather River Dome Reforestation Project”) in California,
USA (the “Feather River Reforestation Stream”). The Feather
River Dome Reforestation Project is the second stream under its
previously announced project pipeline streaming agreement with
Mast, to advance its pipeline of post-wildfire reforestation
projects in the Western USA (the “Mast Reforestation
Projects”).
Mast Reforestation Projects Impact Highlights
- The Feather River Reforestation Stream is expected to remove
approximately 50,000 tonnes of carbon dioxide equivalent
(“tCO2e”), with carbon credits expected to be issued in
2025.
- The Feather River Dome Reforestation Project, located in Butte
County, California, USA, is expected to restore 168 acres that was
severely burned by the Bear Mountain Fire in 2020.
- With increasing frequency and severity of wildfires in the
Western USA, post-wildfire restoration is a critical piece of
climate change mitigation. Mast’s reforestation methods center
around growing healthy, climate-adapted, fire-resilient
forests.
- The Mast Reforestation Projects, including the Feather River
Dome Reforestation Project, are expected to have positive impacts
for wildlife and terrestrial and aquatic ecosystems, which will
persist for more than 100 years of funded monitoring by an
accredited land trust and placed into perpetual conservation
easements.
- The Mast Reforestation Projects are also expected to support
rural livelihoods, providing jobs in seed collection, nursery
operation, site preparation, and seedling planting.
Feather River Reforestation Stream
The Feather River Dome Reforestation Project, located in Butte
County, California, USA, is expected to restore 168 acres at the
Feather River Dome property that was severely burned by the Bear
Mountain Fire in 2020. The Company will receive 100% of the carbon
credits generated by the Feather River Dome Reforestation Project,
less any pre-committed credits, which are expected to be
independently confirmed by a Climate Action Reserve-approved
confirmation body.
The Feather River Dome Reforestation Project is expected to
remove a total of approximately 50,000 tCO2e and generate an
equivalent number of carbon credits. Carbon credit issuance is
expected in approximately 2025.
Under the terms of the Feather River Reforestation Stream, the
Company has made an initial upfront deposit of US$0.14 million on
closing. The Company will make additional milestone payments of up
to US$0.58 million as the Feather River Dome Reforestation Project
achieves site preparation, planting and issuance milestones. Carbon
Streaming will also make ongoing delivery payments to Mast for each
carbon credit sold under the Feather River Reforestation Stream,
which will increase according to a tiered streaming structure
dependent on return on invested capital thresholds. Proceeds from
the Feather River Reforestation Stream are expected to be used for
on-the-ground project implementation activities, including site
preparation and planting. Feather River Dome is significant for its
high conservation value, providing habitat for local fauna such as
black bear and deer, in addition to providing an important water
source for the Sacramento Valley.
About Carbon Streaming
Carbon Streaming aims to accelerate a net-zero future. We
pioneered the use of streaming transactions, a proven and flexible
funding model, to scale high-integrity carbon credit projects to
advance global climate action and additional United Nations
Sustainable Development Goals. This approach aligns our strategic
interests with those of project partners to create long-term
relationships built on a shared commitment to sustainability and
accountability and positions us as a trusted source for buyers
seeking high-quality carbon credits.
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 and
avoidance projects from nature-based, agricultural, engineered and
community-based methodologies.
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Advisories
The references to third party websites and sources contained in
this news release (including information with regard to Mast) are
provided for informational purposes and are not to be considered
statements of the Company.
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 Mast Reforestation
Projects (including the Feather River Dome Reforestation Project);
registration, timing and the amount of future carbon credit
issuances from the Mast Reforestation Projects (including the
Feather River Dome Reforestation Project); the impacts of the Mast
Reforestation Projects on the surrounding ecosystem and other
expected co-benefits; timing and nature of the sale of carbon
credits; and statements with respect to execution of the Company’s
portfolio and partnership strategy.
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 March 28, 2023 filed on SEDAR+
at www.sedarplus.ca.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230925387936/en/
ON BEHALF OF THE COMPANY: Justin Cochrane, Chief
Executive Officer Tel: 647.846.7765 info@carbonstreaming.com
www.carbonstreaming.com
Investor Relations investors@carbonstreaming.com
Media media@carbonstreaming.com
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