VANCOUVER, British Columbia, January 24, 2022 – TheNewswire – Vida Carbon Corp. (“Vida Carbon” or the “Company”) is pleased to announce the completion of a non-brokered private placement (“Private Placement”) for aggregate gross proceeds of approximately C$15,162,547.
The net proceeds from the Private Placement are intended to be used to advance Vida Carbon’s pipeline of carbon credits projects, provide working capital and for general corporate purposes.
Jamie Keech, Chairman, commented: “We are extremely pleased with the support Vida Carbon received from investors in this oversubscribed financing. The company is well-funded and advancing its pipeline of carbon projects as we move towards listing. Vida Carbon is positioned to grow and establish itself as a leader in the carbon sector.”
Pursuant to the Private Placement, Vida Carbon issued a total of 20,216,730 common shares at a price of C$0.75 per share for gross proceeds of approximately C$15,162,547.
About Vida Carbon Corp.
Vida Carbon is a leading investment company focused on supporting reliable, accountable, and sustainable carbon offset projects globally. Vida Carbon is building a diversified portfolio of projects generating carbon credits in both the voluntary and compliance carbon credit markets globally.
The Company’s mission is to build long-term, mutually beneficial relationships with carbon operators and developers in exchange for exposure to future revenues generated through the production of carbon credits. All projects supported by Vida Carbon bring economic and social benefits to the regions where they operate.
ON BEHALF OF THE COMPANY:
CEO and Director
Forward-Looking and Cautionary Statements
Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Forward-looking information typically contains statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project”, “will” or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include, but is not limited to, statements concerning: the use of proceeds from the Private Placement; and the business plan of the Company generally. The forward-looking statements contained in this press release are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.