Carbon Streaming Corp (NEO: NETZ) (OTC: OFSTF) today makes its Canadian market debut via a listing on the Neo Exchange, a tier 1 Canadian exchange. In connection with the listing, the company this morning offered a corporate update on its current operations.
Carbon Streaming, whom is focused on providing investors with exposure to the carbon credit industry, to date has entered into several arrangements to acquire carbon credits. Such arrangements include partnerships with the Bonobo Conservation Initiative, the MarVivo blue carbon project, and preliminary discussions with First Nations groups in Canada.
The company is currently targeting investments to deliver 20 million carbon credits per year for a period of thirty years by the end of the current year, a figure which is expected to grow to 50 million and 100 million by 2023 and 2025, respectively. To meet these targets, the company is reportedly actively pursuing carbon credit streaming and investment opportunities in global jurisdictions.
These credits are expected to be acquired via the firms current financial position, which boasts cash of C$176 million, and no corporate debt.
Finally, the company revealed this morning that it is looking to acquire a US big board listing, either on the NYSE or the Nasdaq, by the end of 2021.
Carbon Streaming Corp is expected to open the Canadian markets at a price of US$1.00 based on the most recent financing.
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