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Aurcrest Gold Announces Signing of Agreement between Big Tree Carbon and Agoke Development LP to Develop Forest Carbon Offset Project
TORONTO, ON / ACCESSWIRE / November 8, 2021 / AurCrest Gold Inc. (the " Company " or " AurCr...
About this update from Big Tree Carbon Inc
[{"type":"text","content":"Aurcrest Gold Announces Signing of Agreement between Big Tree Carbon and Agoke Development LP to Develop Forest Carbon Offset ProjectTORONTO, ON / ACCESSWIRE / November 8, 2021 / AurCrest Gold Inc. (the \"Company\" or \"AurCrest\") (TSXV:AGO) is pleased to announce that its wholly-owned subsidiary, Big Tree Carbon Corp. (\"Big Tree\") (see the Company's Press Release dated April 19, 2021), has signed an Emission Reduction Benefit Management Agreement (the \"ERB Agreement\") with the Agoke Development Limited Partnership. (\"ADLP\") to design and implement a Forest Carbon Offset Project that will create marketable Carbon Credits for the new carbon offset credit market.After many months of negotiation, AurCrest has agreed to partner with ADLP to bring 974,000 hectares of potential carbon offsetting to market in a larger 1,028,496 hectare forest (the \"Ogoki Forest\"). ADC is the general partner of a limited partnership comprising the Aroland First Nation, the Eabametoong First Nation and the Marten Falls First Nation within whose traditional territories the Ogoki Forest is located. Pursuant to the terms of the ERB Agreement, Big Tree will assist ADLP in designing and financing this project and AurCrest, on behalf of Big Tree, will utilize the capital market expertise in our Company to bring growth and access to capital on behalf of the partners.Christopher Angeconeb, AurCrest President and CEO stated \"As a member of the Lac Seul First Nation, I am very pleased that ADLP has moved forward with AurCrest through this Company's model of participation and inclusion with our First Nations neighbour communities, to turn the historical role of indigenous people as stewards of the land into a modern model of indigenous-led environmental and community sustainability. I am very pleased that AurCrest is the first publicly traded company in Canada to be able to pursue this carbon sequestration opportunity. I am also proud that the Company's model represents a holistic approach to economic and resource development, as a partnership between indigenous and non-indigenous peoples of Canada, for the mutual benefit of all for generations to come.\"It is part of AurCrest's mandate to assist under clause 92 of the Truth and Reconciliation Commission of Canada: Calls to Action (the \"TRC Report\") and particularly clause 92.ii. of the TRC Report to en...