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.
For further information: Klimat X Developments Inc., James Tansey, Chief Executive Officer, Email: james.tansey@klimatx.com, http://www.klimatx.com