/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR
FOR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Oct. 12,
2022 /CNW/ - Klimat X Developments Inc. ("Klimat
X" or the "Corporation") (TSXV: KLX) is developing a
large-scale mangrove project involving the restoration of up to
40,000 ha of degraded land in the Yucatan, with the potential to produce over
10m tonnes of carbon credits.
The corporation is pleased to announce that it is the corporate
sponsor of the 2nd Mangrove Congress of America, taking place on
October 10-14, 2022 in Mérida, the
capital of the State of Yucatan,
Mexico. Klimat X CEO, Dr. Tansey will address the congress
during a plenary session to speak about the company's unique
approach and investment in the conservation and restoration of
mangroves around the world. The talk will expand on the company's
experience in Latin America,
Mexico and Sierra Leone, as well as the global reach of
Silvestrum Climate Associates, an exclusive technical partner to
Klimat X. Through the company's involvement in the Congress, the
goal is secure access to new mangrove projects in other
jurisdictions in the Americas.
Klimat X CEO, Dr. James Tansey commented 'Mangroves
have a key role to play as we try to avoid more disastrous effects
of climate change. Our approach to investment involves working
alongside communities, governments and scientists to ensure that
these critical natural assets are both protected and restored in
order to help reverse some of the damaging effects of greenhouse
gas emissions on our planet. He continues to say, "Klimat X
supports this initiative and its purpose to strengthen strategies
for the conservation and management of mangrove resources."
Mangroves play a key role both in global ecosystems. They
protect coastlines from sea level rise, provide key areas of
natural habitat and sequester up to 20 tonnes of carbon dioxide per
hectare. Mangroves store hundreds of tonnes of carbon per hectare
in their sediments and that is all lost when mangroves are
destroyed or degraded.
Klimat X secures investment for the protection and development
of mangrove sites around the world, supporting the underlying
research to establish project baselines, all the way through to
securing long term off take and investment agreements with buyers.
In the face of the project fifteen fold increase in the size of
carbon markets by 2030, the potential for new project development
opportunities is very high.
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
Corporation 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 land owners and governments in
various suitable jurisdictions around the world.
Reader Advisory
The TSXV has in no way passed upon the merits of the Acquisition
or the Project Rights Assignment Agreement and has neither approved
nor disapproved the contents of this news release.
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 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
Acquisition and the ongoing business of the Corporation. 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. 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, REQUIRED BY APPLICABLE CANADIAN LAWS, IS
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES, AND DOES NOT
CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL
ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT
BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR
SOLD IN THE UNITED STATES OR TO
U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
This news 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.
