Vancouver, BC – February 1, 2022 – Global Carbon Credit Corp. (“Global Carbon” or the “Company”) is pleased to announce, as a follow-up to its news release dated December 31, 2021, that it has completed the final closings of its non-brokered private placement to raise $5,758,000 through the issuance of 11,516,000 units (the “Units”) at a price of $0.50 per Unit. Each Unit is comprised of one common share (a “Share”) and one-half of a Share purchase warrant (a “Warrant”), of which each whole Warrant entitles the holder to acquire one Share at $1.00 for 24 months from the date of issuance of the Units.
In connection with the final tranches of the private placement, the Company paid cash commissions totalling $70,980 and issued 109,200 finder’s units (the “Finder’s Units”) to certain brokerage firms for introducing subscribers to the Company. Each Finder’s Unit consists of one Share and one-half of a non- transferrable Share purchase warrant (a “Finder’s Warrant”), each whole Finder’s Warrant exercisable at $1.00 for a period of 24 months from the date of issuance of the Finder’s Units.
The Shares, and any Shares to be issued on exercise of the Warrants or Finder’s Warrants, are subject to a hold period under applicable Canadian securities laws expiring four months and one day from the date of issuance of the Units.
To date, the Company has raised a total of $45,374,051 by way of its non-brokered private placements. The net proceeds of the private placements are being used to finance the Company’s entry into the carbon credits and carbon offsets industry.
The Company has purchased approximately 2 million carbon credits, all of which are registered at one of the main voluntary market registries, for an aggregate cost of approximately US$15.4 million. The credits represent more than 30 projects of various types (e.g. nature based, renewables, landfill, etc.) across a multitude of countries. The Company intends to continue to purchase voluntary carbon credits and add to its diversified portfolio of high-quality carbon credits. It is being advised and supported in its purchase of credits by Carbon Advisors LLC, an experienced carbon credits financial advisor.
The Company also announces that it has entered into the following Investor Relations (“IR”) arrangements:
Native Ads, Inc. – The Company has entered into a master services agreement with Native Ads, Inc. (“Native Ads”). Under the terms of the agreement, Native Ads will provide strategic digital media services, marketing and data analytics services to the Company at a total cost of US$265,000 over an expected twelve-month period. Native Ads is a full-service marketing agency based in Vancouver, BC, that owns and operates a proprietary ad exchange with over 80 integrated supply side platforms.
New Era Publishing Inc. – The Company has entered into a services agreement with New Era Publishing Inc. (“New Era”). Under the terms of the agreement, New Era will provide a combination of content development and distribution, coverage on its website www.carboncredits.com and reporting to the
The Shares, and any Shares to be issued on exercise of the Warrants or Finder’s Warrants, are subject to a hold period under applicable Canadian securities laws expiring four months and one day from the date of issuance of the Units.
Company at a total cost of US$375,000 over an expected six-month period. New Era is a full-service marketing agency based in Vancouver, BC.
2686362 Ontario Corporation dba CanaCom Group – The Company has entered into a services agreement with 2686362 Ontario Corporation dba CanaCom Group (“Canacom”). Under the terms of the agreement, CanaCom will provide a combination of content development for its investor news platform TheDeepDive.ca, video creation and social media awareness campaign and reporting to the Company at a total cost of CAD$120,000 over an expected twelve-month period. CanaCom is a full-service marketing agency based in Toronto, ON.
Digital257 Technologies Inc. – The Company intends to enter into a services agreement with Digital257 Technologies, Inc. (“Digital257”). Under the terms of the agreement, Digital257 will provide content creation, digital marketing and data analytics services to the Company at a total cost of CAD$120,000 over an expected twelve-month period. Digital257 is a digital media company based in Vancouver, BC.
About Global Carbon Credit Corp.
Global Carbon was established to provide investors access to the growing voluntary carbon markets. The Company is building a broad-based portfolio of verified carbon credits representing various project types, locations and vintages. Global Carbon’s investment objective is to maximize risk-adjusted returns for its shareholders by offering leverage to higher global carbon prices forecast as the world mobilizes to meet the goals of the Paris Agreement. For more information about Global Carbon, visit our website at www.globalcarboncreditcorp.com. Follow Global Carbon on Twitter: @GlobalCarbonCr.
ON BEHALF OF THE COMPANY:
Scott Davis, Director
Global Carbon Credit Corp.
580 Hornby Street, Suite 510
Vancouver, BC V6C 3B6
T. 604 558-4300
E. info@globalcarboncreditcorp.com
www.globalcarboncreditcorp.com
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. This forward-looking information reflects the Company’s current beliefs and is based on information currently available to it and on assumptions it believes are reasonable. Specifically, the above statements that the Company plans to continue to purchase carbon credits, to raise additional funds, to provide shareholders exposure to the voluntary carbon markets and to pursue its investment objective are all forward looking. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the availablility of carbon credits or projects at costs acceptable to the Company, or at all; general business, economic, competitive, political and social uncertainties; the value of the credits acquired by the Company may decline; and changes in governmental or regulatory legislation. There is no assurance the proceeds of the private placement will be allocated or spent in the manner set forth above. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward- looking information, except in accordance with applicable securities laws.