December 29th, 2021
Global Carbon Credit Corp. (“GCCC” or the “Company”) is pleased to announce that it has purchased, or entered into contracts to purchase, a total of 1,962,139 voluntary carbon credits (the “Credits”) totalling approximately US$15 million through its wholly-owned subsidiary, Carbon 6 Capital Corporation. The Credits cover a diverse range of 26 carbon offset projects, spanning eight countries and representing a wide spectrum of project types and vintages including nature-based, landfill, fuel-switching and renewable energy. All the Credits have been verified by one of the internationally recognized registries of the voluntary carbon markets. The Company plans to continue direct purchases of voluntary carbon credits as well as acquiring credits via streaming transactions and direct investments in projects, companies and technologies that generate or will generate carbon credits. The Company intends to accumulate a diversified portfolio of voluntary carbon credits in order to provide shareholders exposure to the voluntary carbon markets and any potential appreciation in voluntary carbon credit prices.
To date, the Company has raised a total of $38,366,351 by way of its non-brokered private placements. The net proceeds of the private placements are being used to finance the Company’s entry into the carbon credits and carbon offsets industry.
About Global Carbon Credit Corp.
Global Carbon Credit Corp. (“GCCC” or the “Company”) offers investors direct exposure to the voluntary carbon markets, which are expected to see significant growth this decade. The Company intends to purchase carbon credits directly in the voluntary carbon markets as well as enter into streaming arrangements with project developers or owners to purchase existing and future carbon credits relating to their carbon offset projects. It will also invest in, or acquire, projects and/or companies involved in the generation and/or management of voluntary carbon credits and carbon-related technologies.
ON BEHALF OF THE BOARD:
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. This forward-looking information reflects GCCC’s current beliefs and is based on information currently available to it and on assumptions it believes are reasonable. Specifically, the above statements that the Company plans to continue to purchase carbon credits, to raise additional funds, and to provide shareholders exposure to the carbon credits market are all forward looking. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of GCCC to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the availablility of carbon credits or projects at costs acceptable to GCCC, or at all; general business, economic, competitive, political and social uncertainties; the value of the carbon credits acquired by the Company may decline; and changes in governmental or regulatory legislation. There is no assurance the proceeds of the on-going private placement will be allocated or spent in the manner set forth above. Although GCCC has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. GCCC does not undertake to update any forward-looking information, except in accordance with applicable securities laws.