- KLIMAT X Development (TSXV:KLX) has closed its acquisition of carbon credit development rights
- The company is focused on producing large-scale carbon credits from nature-based solutions
- Its new acquisition is through the sale of timber and other biological assets for approximately 32,000 hectares of land located in Sierra Leone
- The all-cash deal with Forest and Mangrove Protection Ltd. is worth approximately US$655,912
- The acquisition more than doubles the land area under development by the Corporation in Sierra Leone
- KLIMAT X Development is unchanged, trading at $0.12 at 2:34 pm ET
KLIMAT X Development (TSXV:KLX) has closed its acquisition of carbon credit development rights.
The Vancouver-based company is focused on producing large-scale carbon credits from nature-based solutions.
Its new acquisition is through selling timber and other biological assets for approximately 32,000 hectares of land in Sierra Leone.
The all-cash deal with Forest and Mangrove Protection Ltd. is worth approximately US$655,912.
“These investments expand our reach in a country where we have very strong foundations. We have secured a much larger land area for our trailblazing rewilding programme. The addition of a large-scale mangrove project to our portfolio in Sierra Leone is extremely encouraging, and we expect it will establish a strong precedent for other large-scale mangrove investments in the region,” said CEO Dr. James Tansey.
The acquisition more than doubles the land area under development by the Corporation in Sierra Leone.
The extension represents a scale-up and a potential opportunity to realize significant earlier revenues from a mangrove conservation project.
KLIMAT X Development is unchanged, trading at $0.12 at 2:34 pm ET.
