VANCOUVER, April 22 /CNW/ - Carbon Friendly Solutions Inc. (TSX Venture Exchange: CFQ) ("CFS" or the "Company") is pleased to announce it has signed a Verified Emission Reduction ("VER") Call Option Purchase Agreement with Carbonzero, to purchase all of the future VER's from its previously announced Ontario, Canada Reforestation Project ("the Project").
The Call Option, Verified Emission Reduction Purchase Agreement ("VERPA"), grants Carbonzero the right to purchase all of the future CCBA Validated VER's from the Project at an exercise price of $5.00 CAD per VER until December 31, 2010.
Carbon Friendly CEO Michael Young commented; "This agreement further validates that there is a growing appetite to purchase VER's from North American reforestation projects. In addition we are excited to have created a strong relationship with an industry leader like Carbonzero that supports the development of high quality reforestation projects in North America."
The Climate, Community and Biodiversity Alliance (CCBA) is a partnership between leading companies, non-governmental organizations (NGOs) and research institutions seeking to promote integrated solutions to land management around the world. With this goal in mind, the CCBA has developed voluntary standards to help design and identify land management projects that simultaneously minimize climate change, support sustainable development and conserve biodiversity. Website address http://www.climate-standards.org/index.html
Carbonzero was founded in 2006 and has rapidly risen to become a leader in the design and implementation of corporate carbon reduction strategies and solutions in the emerging low carbon economy. A top performer in the recent "David Suzuki Foundation and Pembina Institute report on Carbon Offsetting", Carbonzero has led the way in setting the leading industry standards for measurable, verified emissions reduction offsets in Canada. Carbonzero helps transform individuals, governments and organizations by aiding them in assessing, reporting, and reducing their carbon footprint. www.carbonzero.ca
About Carbon Friendly Solutions Inc.
Carbon Friendly Solutions Inc. (CFS) is a project proponent that provides solutions for companies, organizations and individuals looking to reduce or offset their global warming impact caused by greenhouse gas emissions while including the generation of carbon credits for sale in the global Voluntary and Compliance markets. Through its wholly owned subsidiaries, Global CO2 Reduction Inc. and CO2 Reduction Poland Sp. z o.o., CFS is focusing on removing and offsetting carbon dioxide emissions from the completion of reforestation, biomass energy and renewable energy technology projects that are independently validated and verified to globally recognized standards and methodologies. www.carbonfriendly.com
On behalf of the Board of Directors
Carbon Friendly Solutions Inc.
Certain statements included in this News Release contain forward-looking statements, including disclosure concerning possible or assumed future results of operations of the Company. Forward-looking statements typically are preceded by, followed by or include the words - "believes," "expects," "anticipates," "estimates," "intends," "plans," "or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions, and the Company's results could differ materially from those anticipated in these forward-looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE MicroCoal Technologies Inc.
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