Carbon Streaming Announces Term Sheet and Royalty Agreement With Future Carbon Group
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Monday, September 12, 2022
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Carbon Streaming Corporation (NEO: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (Carbon Streaming or the Company) is pleased to announce that it has entered into an exclusive term sheet (the Term Sheet) with Future Carbon Group (FCG or Future Carbon) covering four REDD+ projects in Brazil (FCG Amazon Portfolio or Projects).
Key Points:
- Carbon Streaming Corporation (NEO: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (Carbon Streaming or the Company) is pleased to announce that it has entered into an exclusive term sheet (the Term Sheet) with Future Carbon Group (FCG or Future Carbon) covering four REDD+ projects in Brazil (FCG Amazon Portfolio or Projects).
- In connection with the Term Sheet, the Company has advanced Future Carbon US$3 million and entered into a royalty agreement (the FCG Amazon Portfolio Royalty) covering Future Carbons interest in the Projects.
- The Company made a payment of US$3.0 million on signing the Term Sheet in exchange for a 5% royalty on carbon credit revenues generated by Future Carbon from the Projects.
- As part of the long-term partnership with Future Carbon, Carbon Streaming expects the FCG Amazon Portfolio Royalty to be foundational for a stream agreement on the Projects in the near future.