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DGAP-News: ITOCO Inc.: ITOCO Receives Final Agreement on an Initial 1,014 Hectares of Nopal Cactus Plantations in Mexico for the Purpose of Carbon Credit Capture; and Will Attend 'Dia Internacional Del Nopal En
DGAP-News: ITOCO Inc.: ITOCO Receives Final Agreement on an Initial 1,014 Hectares of Nopal Cactus Plantations in Mexico for the Purpose of Carbon Credit Capture; and Will Attend 'Dia Internacional Del Nopal En.
About this update from Itoco Inc
[{"type":"text","content":"\n\n\n\n\nDGAP-News: ITOCO Inc.\n\n\n / Key word(s): Miscellaneous\n\n\n\n\n\nITOCO Inc.: ITOCO Receives Final Agreement on an Initial 1,014 Hectares of Nopal Cactus Plantations in Mexico for the Purpose of Carbon Credit Capture; and Will Attend 'Dia Internacional Del Nopal En \n\n\n\n\n\n\n16.09.2021 / 13:30 \n\n\n\nThe issuer is solely responsible for the content of this announcement.\n\nITOCO Receives Final Agreement on an Initial 1,014 Hectares of Nopal Cactus Plantations in Mexico for the Purpose of Carbon Credit Capture; and Will Attend \"Dia Internacional Del Nopal En Mexico\"\n\nThursday, September 16, 2021 7:30 AM\n\nTopic:\nCompany UpdateTORONTO, ON / ACCESSWIRE / September 16, 2021 / ITOCO INC. (OTC PINK:ITMC) is pleased to have received final signatures on an initial 1,014 hectares of Nopal Cactus Plantations in State of Mexico and Hidalgo State, Mexico from 125 individual farmers.\n\nITOCO has applied to \"Verra Standard (VCS)\" for the certification of approximately US $750k in Carbon Credits based on the extractive properties of the Nopal Cactus plant vis a vis Carbon on this first 1,014 hectares. ITOCO's expectation is to be in receipt of funds upon verification by Verra. Carbon Credit numbers are based on the lowest value per ton received on similar packages.\n\nThe Government of Mexico has strongly endorsed the Paris Agreement that was adopted at the twenty-first session of the Conference of the Parties (\"COP\") to the United Nations Framework Convention on Climate Change (UNFCC) to mitigate Green House Gas (\"GHG\") emissions.\n\nThe Nopal Cactus Growers of the Sub-commission of Nopal, Tuna and Maguey of the Commission of Agriculture and Irrigation of the Lower House of Congress of the Union and The Chamber of Deputies aims to support the Nopal Cactus Growers in Mexico. Today, through its 11,382 members, the Sub-commission has made available 61,121 Hectares under management to this program.\n\nItoco has contracted about 60,000 hectares of Nopal Cactus Plantations in Mexico and is in the process of final contracting on each individual package. The land package represents the farming activities of about 11,000 individual farmers in Mexico.\n\nITOCO will be announcing additional final contracts in the near future.\n\nITOCO estimates that its land package will yield up to US $45 million annually in Carbon Credits...