VANCOUVER, Sept. 26, 2012 /CNW/ - Crimson Bioenergy Ltd. (TSXV: CSN) is
pleased to announce that the Company, through its 100% owned
subsidiary, CSQ Environmental Technologies Ltd. ("CSQ"), has signed a
contract with Pacific Carbon Trust ("PCT") for the afforestation of
non-productive farmland near Fort St. John, BC to develop a permanent
mixed-wood forest. Under the contract PCT will purchase up to 56,000 of
the greenhouse gas offsets expected to result from the project over a
10-year period beginning in 2013. PCT will also have a right of first
refusal to purchase any amounts over and above the 56,000 offsets that
may accrue from the project. The performance of the contract is
subject to Crimson obtaining financing for the project on or before
December 31, 2012. Crimson is working to secure financing for the
"This project is a continuation of our approach to using carbon offsets
to promote the creation of new forests. We are pleased to work with PCT
as a part of British Columbia's climate change mitigation strategy"
stated Crimson Bioenergy's President, Dr. Will Carr.
"The CSQ project is the first afforestation project to be added to our
portfolio, and is an example of how offset projects provide both
long-term environmental benefits and impressive economic value for the
province of BC."
-Scott MacDonald, CEO, Pacific Carbon Trust.
Crimson Bioenergy Ltd.- has extensive management expertise in the areas of forest management,
forest ecosystem restoration, energy crops and greenhouse gas offsets
(carbon credits). Crimson is pursuing the development of longer-term
wood fibre/carbon credit forests that meet the terms of "afforestation"
under carbon offset programs. It also is developing reforestation
projects on under-utilized agricultural lands for the expanding biomass
energy market that involve short rotation, high density hybrid poplars,
called 'energy crops', with 3-to-10 year growth cycles.
Additional information on Crimson Bioenergy can be found on the
corporate website at www.crimsonbioenergy.com or by contacting firstname.lastname@example.org
Pacific Carbon Trust is a Crown corporation established in 2008 to deliver BC-based
greenhouse gas offsets, to help clients meet their carbon reduction
goals and to support the growth of BC's low-carbon economy. For more
information, please visit www.pacificcarbontrust.com.
William W. Carr, President
FORWARD LOOKING STATEMENTS: This press release contains "forward-looking statements" within the
meaning of applicable Canadian securities legislation. Generally,
forward-looking statements can be identified by the use of forward-
looking terminology such as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain actions,
events or results "may" ,"could", "would", "might" or "will be taken",
"occur" or "be achieved". Forward-looking statements are subject to
known and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements of
Crimson to be materially different from those expressed or implied by
such forward-looking statements, including but not limited to: risks
relating to Crimson's ability to raise sufficient financing to fund its
business plan, development and expansion activities, dependence on
existing management, financial activities, domestic and global economic
conditions, changes in federal or provincial income tax laws, and
market competition factors.
Although Crimson has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements. Crimson does not
undertake to update any forward-looking statements that are contained
herein, except in accordance with applicable
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: Crimson Bioenergy Ltd.
For further information:
Crimson Bioenergy Ltd.
Suite 202 - 5752 176th Street
Surrey, BC V3S 4C8
Phone: (604) 574-3100