On May 15, 2020 Star Royalties Ltd. acquired a 16% gross revenue royalty from AurCrest Gold Inc. on the sale of carbon offset credits generated from by the Lac Seul forest carbon sequestration project, and a right of first refusal over any interest in AurCrest’s annual revenue or annual revenue share from any carbon sequestration project it holds now or in the future within the overall Lac Seul Forest Management Unit. AurCrest Gold and Blue Source, LLC are assisting Lac Seul First Nation in developing forest carbon sequestration opportunities on the Nation’s Reserve lands and Traditional Territory in northwestern Ontario, Canada, that the parties expect to result in carbon offset credits that can be sold to federally regulated industrial emitters.
Fasken advised Star Royalties Ltd., with a team led by Johanna Fipke (Mining).
Jurisdiction
- Ontario
