Karbon-X Acquires Silviculture Systems: A Synergistic Step towards a Sustainable Future

Rhea-AI Summary

Karbon-X Corp finalizes agreement to acquire 80% of Silviculture Systems Corp for $7,300,000 USD in cash and stock transaction. Karbon-X now owns 32% of SCS with remaining ownership to be acquired in tranches. SCS plans to plant 250,000 trees this season and develop a biochar facility. Positive impact on stock price expected due to synergies and potential for scaling efforts.

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• Karbon-X acquires 80% of Silviculture Systems Corp
• SCS plans to plant 250,000 trees this season and develop a biochar facility

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• None.

CALGARY, AB / ACCESSWIRE / August 28, 2023 / Karbon-X Corp ("Karbon-X") (OTC PINK:KARX), an innovative carbon credit project development company, is pleased to announce finalising the definitive agreement to acquire 80% of Silviculture Systems Corp ("SCS") for $7,300,000 USD in a combination of cash and stock transaction. The initial transaction results in Karbon-X owning 32% of SCS, with the remaining ownership being acquired in tranches over the next 14 months. SCS is a leading proponent for reforestation and environmental conservation in South America, with a current focus on a reforestation project in Bolivia. This strategic union marks a pivotal moment in the ongoing efforts to combat climate change and foster a greener, more sustainable world. Learn more about the project here.

"We are excited about acquiring Silviculture Systems as it aligns perfectly with our core mission of establishing a global portfolio of projects in our mission to create a cleaner and greener planet while driving shareholder value. The synergies between our technologies and their expertise in reforestation and biochar will enable us to tackle climate challenges from multiple angles," said Chad Clovis, CEO of Karbon-X.

SCS has devised a strategic plan to plant 250,000 trees this planting season and is also developing a cutting-edge biochar facility. Their visionary scope extends to planting millions more trees in the forthcoming years. These bold reforestation endeavours in Bolivia and other parts of South America align perfectly with Karbon-X's primary mission of democratising carbon offset solutions and amplifying their ecological impact.

"Uniting with Karbon-X opens the door to scaling and expanding our efforts to even greater heights. With a firsthand understanding of our potential in Bolivia gained over the past few years, I'm profoundly aware of the immense possibilities ahead. Partnering with Karbon-X provides us with the resources to make a profound impact." adds Jeff Zelinski, Founder of Silviculture Systems.

For media inquiries, please contact: Sarah Lachance, Director of Operations, at sarah@4everforest.org

For information on Karbon-X, please contact: Daniel Haigh, Senior Marketing Manager, at dh@karbon-X.com

About Karbon-X

Karbon-X is a trailblazing company dedicated to developing and implementing eco-friendly technologies that combat climate change and promote sustainability. With a focus on reducing carbon emissions and environmental impact, Karbon-X is committed to creating a cleaner and greener future.

Website: https://karbon-x.com

About Silviculture Systems

Silviculture Systems is a full-service climate change company and a pioneering force in reforestation and sustainable practices. The company is committed to environmental preservation and drives projects that foster ecosystem restoration and carbon offset initiatives. Silviculture Systems aims to redefine sustainable land management through strategic partnerships and innovative solutions.

SOURCE: Karbon-X Project Inc.

View source version on accesswire.com:
https://www.accesswire.com/777690/Karbon-X-Acquires-Silviculture-Systems-A-Synergistic-Step-towards-a-Sustainable-Future