Business
AurCrest Gold, Lac Seul First Nation and Bluesource Sign Adoption Agreement to Proceed with a GHG Emission Sequestration Project and Monetize Carbon Offsets in the Boreal Forest
TORONTO, ON / ACCESSWIRE / May 11, 2020 / AurCrest Gold Inc. (the " Company " or " AurCres...
About this update from Big Tree Carbon Inc
[{"type":"text","content":"AurCrest Gold, Lac Seul First Nation and Bluesource Sign Adoption Agreement to Proceed with a GHG Emission Sequestration Project and Monetize Carbon Offsets in the Boreal ForestTORONTO, ON / ACCESSWIRE / May 11, 2020 / AurCrest Gold Inc. (the \"Company\" or \"AurCrest\") (TSXV:AGO) is pleased to announce that, on May 8, 2020, an Adoption Agreement (the \"Adoption Agreement\") was signed by the Company, the Lac Seul First Nation (\"Lac Seul\") and Blue Source Canada ULC (\"Bluesource\") to develop a forest carbon project on the forested lands on the Lac Seul reserve northwest of Sioux Lookout, Ontario.On August 19, 2019, the Company announced that it had signed a Carbon Development & Marketing Agreement (\"CDMA\") with Bluesource. The CDMA set forth the terms and conditions by which the Company and Bluesource will collaborate to develop carbon sequestration opportunities and market the resulting carbon offsets alongside First Nations pursuing their inherent stewardship role both on reserve and within their traditional territories. The CDMA provides that specific forestry projects with First Nations will be incorporated into the CDMA through the execution of an Adoption Agreement allowing Bluesource to provide its services to develop and market Emission Reduction Benefits (\"ERBs\"), being environmental and financial benefits associated with the carbon sequestration from enhanced management of the forest resource.Bluesource is the leading carbon offset developer in North America and is recognized as such by clients and industry peers in the Environmental Finance rankings. It has a particularly strong track record in developing forest carbon projects for landowners and indigenous communities across North America. Bluesource leverages both its technical capacity and transactional capability in carbon markets to help forest owners evaluate opportunities and generate value in diverse carbon markets by developing and monetizing offsets on their behalf.On December 13, 2019, the Company announced that it had signed an Emissions Reduction Benefits Management Agreement (\"ERBMA\") with Lac Seul to develop forest carbon sequestration opportunities in the First Nation's traditional territory in Northwestern Ontario.Lac Seul plays a central role in the management of the forests in its traditional lands, both as customary stewards of the l...