Funds from Altius will be used by Invert to execute on existing pipeline of carbon credit producing projects.
Ottawa, March 10, 2022 – Invert Inc. (“Invert”), a specialized emissions reduction and offsetting company, and Altius Minerals Corporation (Altius) (TSX:ALS) (OTCQX: ATUSF), are pleased to announce the closing of a US $5 million convertible note financing. The investment by Altius will be used by Invert to accelerate its pipeline of strategic carbon credit investments.
The convertible note is the second strategic investment made by Altius. In Dec. 2021, Altius completed an equity placement into Invert which allowed the Company to make meaningful progress in developing its B2B, consumer facing, and streaming capabilities.
“With an active pipeline of projects to invest in, Invert plans to rapidly deploy this funding in order to lock up a number of major investment opportunities,” said Invert Chairman Mark Zekulin. “Altius continues to be a terrific partner as we seek to leverage their knowledge gained in minerals and renewables streaming into carbon credit markets, and we are thankful for this further vote of confidence in our business model.”
“Carbon emissions reduction and sequestration projects resulting in carbon credits is a natural extension of the sustainability themes that anchor our royalty business,” said Brian Dalton, CEO, Altius Minerals. “We believe the team at Invert has the capacity to excel in this emerging market and are making this investment while strengthening our partnership.”
The convertible note has a term of 12 months and will convert into common shares upon a listing event within the limits of the relevant exchange. The note bears an interest of 7% per annum.
Invert is focused on identifying, reviewing and funding carbon credit projects that produce high quality, meaningful carbon reduction and removal credits. A core part of Invert’s vision is to make access to these carbon projects available to individuals. Well-vetted, independently verified carbon credits are an essential tool (along with inverting the way businesses and individuals behave) in the fight to remove carbon from our atmosphere. By investing in a well-balanced portfolio of carbon reduction and removal projects, Invert believes that it can make a meaningful difference in the fight against climate change, while delivering a strong return for its investors.
About Invert
Invert is a leading carbon-reduction and removal company committed to empowering businesses, communities, and individuals to take bold climate action. With a mission to drive global goals for decarbonization, Invert is dedicated to making a measurable impact on our planet’s future. We empower action through carbon project origination and financing, sourcing high-integrity carbon credits for businesses, and providing a software platform for organizations to bring employees along the climate-action journey.
