Vida Carbon announces sales agreement with Shell

VANCOUVER, BC, Aug. 8, 2022 /CNW/ - Vida Carbon Corp. ("Vida Carbon" or the "Company") is pleased to announce that it has entered into a sales agreement (the "Agreement") with Shell Energy North America (Canada), Inc. ("Shell"). First delivery of carbon credits covered by the Agreement is expected in late 2023.

Veljko Brcic CEO of Vida Carbon Commented: "At Vida Carbon we invest in high quality carbon credit projects, an indispensable tool for reducing and removing greenhouse gas emissions globally. Entering into this agreement with Shell represents a significant milestone for the company and demonstrates a growing awareness of the role of carbon credits as an essential tool in combating climate change. We look forward to a strong and mutually beneficial relationship with Shell."    

The execution of the Agreement delivers on Vida Carbon's targeted shareholder returns and establishes a strong working relationship with Shell, one of the leaders in the energy transition space.

Vida Carbon is a leading carbon credit royalty & streaming company focused on financing high quality sustainable carbon credit projects globally. Vida Carbon is well capitalized and growing rapidly. Vida's portfolio of carbon credit generating assets are diversified across jurisdiction and project type and are operated by highly experienced and reputable project developers.

The Company's mission is to build long-term, mutually beneficial relationships with carbon credit operators and developers in exchange for exposure to the future value created through the production of carbon credits. All projects supported by Vida Carbon bring economic and social benefits to the regions in which they operate.

ON BEHALF OF THE COMPANY:
Veljko Brcic
CEO and Director, Vida Carbon

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: statements and figures with respect to the estimation of future carbon credit generation from the projects; and the Company's strategy going forward and the timing thereof. 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.

SOURCE Vida Carbon Corp.