VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 30, 2014) - Offsetters Climate Solutions Inc. ("Offsetters" or the "Company") (TSX VENTURE:COO)(9EA.F) would like to announce that it has postponed certain payment terms related to the acquisition, announced December 14, 2012, whereby Offsetters (formerly ERA Carbon Offsets Ltd.) acquired Offsetters Clean Technology Inc. and Carbon Credit Corporation from a third party Seller (the "Seller").
Under the terms of the Share Purchase Agreement dated November 7, 2012, Offsetters was scheduled to remit the Third Cash Payment of CDN $500,000 cash to the Seller by December 30, 2014. The Company and the Seller have agreed to amend this payment schedule effective December 29, 2014. The amended payment schedule will extend the deadline for the Third Cash Payment from December 30, 2014 until January 30, 2015.
James Tansey, Ph.D., President and CEO, Offsetters Climate Solutions Inc.
About Offsetters Climate Solutions Inc.
Offsetters is Canada's largest and most diversified carbon management solutions company. Its team of industry leaders specializes in the origination, development and commercialization of high-quality carbon offset projects, and through a comprehensive offering of sustainability consultancy services Offsetters helps organizations understand, reduce and offset their climate impact. Based in Vancouver, Canada, Offsetters has worked with over 150 of the world's most prestigious organizations including Aimia, Vancity, lululemon athletica, Catalyst Paper, Harbour Air, HSE - Entega, and Shell Canada Limited. Offsetters is publicly listed company on the Toronto Venture Exchange (TSX VENTURE:COO) and in Frankfurt:9EA. For more information, please visit us at www.offsetters.ca.
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of the company's general business development, research development and the company's development of carbon offsets. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Offsetters Climate Solutions Inc. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include fluctuations in the marketplace for the sale of carbon credits, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.