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Wednesday, April 27, 2011 10:51:02 PM
Carbon Credit Project:
On February 1, 2011 the Company entered into a Carbon Development Agreement with Bio-Carbon Solutions International Inc (OTC Pinksheets: BICS) for the purpose of securing technical services for: 1) the completion of a Project Design Document for the registration of carbon offsets from forestry activities (conservation and afforestation) from 42,000 acres of lands in Sierra Leone, and 2) for fundraising for the realization of the carbon project. Pursuant to the Carbon Development Agreement the Company shall pay a contingency payment of 10% of the net profits from the sales of the carbon offsets upon their realization.
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