8th Mar 2024 10:51
(Alliance News) - Carbon Done Right Developments Inc on Friday said it plans to buy the London Carbon Exchange as part of its upcoming listing on the AIM market in London.
Vancouver, Canada-based Carbon Done Right recently changed its name from Klimat X Development Corp. It is already listed in Toronto, where it has a market capitalisation of CAD5.7 million, about GBP3.3 million. It is a carbon credit project developer, planning to restore forest and mangrove in Sierra Leone to generate carbon credits.
On Monday, Carbon Done Right had said it expects to list on AIM early in the second quarter. On Friday, it said that as part of that share offering in London, it will issue USD450,000 in shares to buy London Carbon Exchange. LCE is a blockchain-enabled carbon trading platform.
Carbon Done Right will buy the exchange from Supernova Digital Assets PLC, an Aquis Stock Exchange-listed investor in blockchain-enabled decentralised finance that recently changed its name from AQRU PLC.
Supernova was quoted at 0.14 pence on AQSE on Friday morning. It was last traded at 0.15p on Thursday afternoon.
By Tom Waite, Alliance News editor
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