AskMuncher
3 years ago
$NDENF Central African Gold Engages Environmental Consultancy and Cleantech Investment Firm to Advance Carbon Plan
Press Release | 11/01/2021
Vancouver, British Columbia--(Newsfile Corp. - November 1, 2021) - Central African Gold Inc. (TSXV: CAGR) (FSE: BC21) (OTC Pink: NDENF) ("CAGR" or "Central African Gold") is pleased to announce CAGR has engaged two internationally recognized leaders, EcoMetrix and Inerjys Ventures, to advance the implementation of carbon credit and clean energy revenue streams on its vast land positions in the Democratic Republic of Congo (DRC). With the objectives of environmental sustainability, sustainable revenue, and social commitments to domestic employment, it was imperative to both identify the ideal ESG initiatives as well as put together an operational plan that will bring the strategy to life quickly and effectively.
EcoMetrix Africa, a sustainability consulting and carbon financing firm, is assessing each potential activity's economic and technical attractiveness, their mitigation, impact, and contribution to the core business activities of CAGR. Additionally, EcoMetrix is evaluating the various Carbon Credit standards that exist today, helping to identify those that best serve the overall ESG strategy and have the regulatory scale to support efforts in the DRC. Each initiative is being evaluated for their Carbon Credit value, environmental and socio-economic impact, and the cost/benefit analysis of their implementation. CAGR will be selecting initiatives using those criteria with the assistance of Inerjys Ventures, who is specialized in structuring and operationalizing cleantech projects so that they are viable, profitable, and measurable in terms of impact.
Inerjys Ventures, a cleantech investment firm and green project developer, has been engaged to assist in structuring the CAGR carbon plan (CAP), and implementing an operational plan that involves technology suppliers, off-takers, and funding partners. Inerjys' activity in the cleantech venture space provides CAGR access to breakthrough technologies that are proven in the field but still somewhat unknown to most project developers. The combination of these latest technologies that provide cost efficiency and performance optimization with the right structuring and financial model, will allow CAGR to implement "ESG as a business", a secondary revenue stream all while building the local economy and mitigating carbon emissions.
About Carbon Credits
A carbon credit is a tradable permit or certificate that provides the holder of the credit with the right to emit one ton of carbon dioxide or an equivalent of another greenhouse gas and is essentially an offset for industries producing green-house gas. The obligation to meet reduced emission targets is now being imposed in most countries with significant penalties for non-compliance. If an industry cannot meet its required levels, there is an efficient global marketplace developing where these companies can purchase carbon credits to offset their emissions. There are three basic types of carbon credit: those from reduced emissions through efficiency such as solar photovoltaic plants, wind and other non-fossil fuel energy sources; removed emissions through carbon capture and planting forests or other vegetation providing a "carbon sink"; and avoiding emissions by such methods as stopping de-forestation.
About Central African Gold Inc.
Central African Gold is a natural resource company with a primary focus on the acquisition, exploration, development, and operation of battery metal copper, cobalt, and nickel mineral projects in the DRC. The implementation of a carbon credit program will complement battery metals operations and meet important ESG requirements. Central African Gold has the intention to acquire interests in additional concessions or relinquish concessions in the normal course of business. Central African Gold has an experienced management team located in the DRC.
For further information, please contact:
Stephen Barley, Executive Chairman
Phone: (604-834-2968)
Email: info@centralafricangold.com
Website: www.centralafricangold.com
Reader Advisory
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain "forward-looking information" within the meaning of applicable securities laws including the successful implementation of a carbon credit program; the acquisition of additional copper, cobalt, and nickel projects; the establishment of profitable revenue centers for CAGR and its DRC partners; and the continued growth of the clean technology and carbon credit sectors. Although CAGR believes, considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them as CAGR can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. CAGR undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of CAGR its securities, or its financial or operating results.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101501
MusashiG
6 years ago
On June 13, 2017, the Company entered into a definitive assignment agreement to acquire 100% of the interests, rights and obligations of a further six (6) mining concessions in the Democratic Republic of the Congo, Africa as follows: PR13723, PR13724, PR13725, PR13726, PR13727, and PR13781. In exchange, the Company issued 2,000,000 common shares and paid $30,000. Total consideration was $164,461. On October 5, 2017, the Company entered into a definitive assignment agreement to acquire 55% of the interest, rights and obligations of mining concession PE9468 in the Democratic Republic of the Congo, Africa. In exchange, the Company issued 7,000,000 common shares and paid $375,000. Total consideration was $2,717,886. In January 2018, the Company entered into an agreement with a company controlled by an officer of one of the Company’s subsidiaries whereby the Company will pay $250,000 upon the Company completing the acquisition of interests in not less than 20 concessions in the DRC and an additional $250,000 upon the Company completing the acquisition of interests in not less than 25 cumulative concessions in the DRC. These costs were included in the acquisition costs of the concessions acquired. In January 2018, the Company entered into an agreement to earn up to a 70% interest in six additional concessions in the southern Democratic Republic of Congo Copperbelt as follows: PR13414, PR13430, PR13433, PR13441, PR13444, and PR13445. The Company will be required to make monthly payments of $5,000 per concession (total $30,000 per month) plus $700,000 per concession after a definite feasibility study has been delivered (total $4,200,000). In February 2018, the Company entered into an agreement to earn up to a 70% interest in six additional concessions in the southern Democratic Republic of Congo Copperbelt as follows: PR13416, PR13421, PR13422, PR13423, PR13425 and PR13442. The Company is required to make monthly payments of $5,000 per concession (total $30,000 per month) plus $700,000 per concession after a definite feasibility study has been delivered (total $4,200,000).
MusashiG
6 years ago
On June 5, 2017, the Company entered into an agreement with Lockwood Financial Ltd. and Katanga Trust Mining Sarl to acquire certain interests in seven (7) mineral concessions in the Democratic Republic of the Congo, Africa as follows: 100% of ZEA 292-COMIMA 65% of PR13370 100% of ZEA 292-COMIPAD 65% of PR13371 100% of Nkwali-ZRG 00121 65% of PR13372 100% of Karajipopo1 In exchange, the Company issued 16,000,000 common shares to various third parties, assumed $200,000 of debt and paid $896,678. Total consideration was $2,152,823.
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