Carbon Streaming Provides Corporate Update and Announces New Removals Streaming Agreement With Mast Reforestation
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Freitag, Februar 9, 2024
TORONTO, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Carbon Streaming Corporation (Cboe CA: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) is pleased to provide a corporate update including announcing that it has entered into a streaming agreement with Mast Reforestation SPV I, LLC (“Mast”), for the Baccala Ranch project (the “Baccala Ranch Reforestation Project”) in California, USA (the “Baccala Ranch Reforestation Stream”). The Baccala Ranch Reforestation Stream is the third stream under its previously announced project pipeline streaming agreement with Mast, to advance its pipeline of post-wildfire reforestation projects in the Western USA.
Key Points:
- The Baccala Ranch Reforestation Stream is the third 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 Baccala Ranch Reforestation Project is expected to remove a total of approximately 91,500 tCO2e and generate an equivalent number of carbon credits.
- Carbon Streaming will also make ongoing delivery payments to Mast for each carbon credit sold under the Baccala Ranch Reforestation Stream, which will increase according to a tiered streaming structure dependent on return on invested capital thresholds.
- The Company has entered into an amendment to its Sheep Creek Reforestation streaming agreement to reflect these updates.