CASTLEGAR, BC, June 29, 2022 /PRNewswire/ - Karbon-X Corp (formerly Cocoluv, Inc.) (OTC: CCLV) an innovative carbon marketing company, announced today that the Company has signed a Letter of Intent to acquire Siviculture Systems and 4everforest Foundation out of Toronto Ontario Canada and Santa Cruz Bolivia.
This strategic acquisition will allow Karbon-X to generate their own carbon credits, which will in turn be marketed through their APP based marketing system or direct sales to businesses. The acquisition also creates new revenue opportunities for the Company, including charcoal and bio-mass development and will position Karbon-X as a leader in carbon capture project development.
The acquisition is expected to be completed by August 1, 2022.
"The proposed acquisition of SCS and 4everforest is a milestone event for Karbon-X and accelerates the company's plans on developing projects around the world," said Karbon-X CEO, Chad Clovis. "The acquisition of SCS and 4Everforest will speed up project development credit generation as 4everforest has planted trees successfully in Bolivia and has lands secured to expand rapidly."
Both SCS and 4everforest will continue to operate under their current brand, their staff will be maintained, and we will provide funding for rapid expansion once acquired.
Karbon-X is a tech-based carbon marketing company specializing in selling carbon credits direct to business or through an owned APP to the everyday person while investing in projects that have the potential to generate carbon credits and supplies in an online social media community to encourage change and growth of the green economy.
On behalf of Karbon-X Corp
Chief Executive Officer & Director
This press release contains "forward-looking information" within the meaning of applicable securities laws in Canada or the United States ( "forward-looking information"). Forward-looking information may relate to the Company's future outlook and anticipated events, plans or results, and may include information regarding the Company's objectives, goals, strategies, future revenue or performance and capital expenditures, and other information that is not historical information. Forward-looking information can often be identified by the use of terminology such as "believe," "anticipate," "plan," "expect," "pending," "in process," "intend," "estimate," "project," "may," "will," "should," "would," "could," "can," the negatives thereof, variations thereon and similar expressions. The forward-looking information contained in this press release is based on the Company's opinions, estimates and assumptions in light of management's experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management currently believes are appropriate and reasonable in the circumstances.
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