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Planktos Corp. Announces Private Placement Funding
FOSTER CITY, Calif.--(BUSINESS WIRE)--Planktos Corp. (OTCBB:PLKT) is pleased to announce that it has secured private placement funding of up to $2,000,000. The Company has recently received $1,100,000 in funding and anticipates receiving the remainder of the $2,000,000 shortly.
The financing is in the form of a direct private placement at $1.00 per share.
Of the $2M, $1.4M is slated to begin the first voyage of the RV Weatherbird II and $600,000 to complete the first-stage planting in Hungary by Planktos’ subsidiary KlimaFa.
During its initial voyage, the Weatherbird II will be engaging in an ambitious project to begin restoring the ocean's ecosystem and in the process generating revenues through the creation of valuable carbon credits.
It is further anticipated that Planktos' majority-owned KlimaFa subsidiary will also begin to generate carbon credits later this year through the planting of indigenous trees in the national forests of Hungary.
Planktos Corp. will soon be providing regular progress updates on the status of these two world-class projects.
Planktos Corp. is a public company (stock symbol PLKT.OB) engaging in global eco-restoration projects to revive dwindling forests and ocean plankton ecosystems. The company harnesses the power of green plants and photosynthesis to remove CO2 from the atmosphere. Its climate forests in the European National Parks and ocean plankton restoration blooms are intended to produce carbon offsets for sale into both regulated and voluntary climate change markets in the EU and around the world. Learn more about the work of KlimaFa and Planktos by visiting their web sites at www.klimafa.eu and www.planktos.com.
A number of statements herein are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933. Safe-harbor provisions may be inapplicable to these statements due to exclusions under Section 27A(b). These forward-looking statements involve risks and uncertainties, including the sufficiency of existing capital resources, uncertainties related to the development of the Planktos/KlimaFa business plan, and the ability to secure additional sources of financing. The actual results achieved could differ materially from any forward-looking statements due to such risks and uncertainties. Planktos encourages the public to read the information provided here in conjunction with their filings on Form 10-KSB and Form 10-QSB. Public filings may be viewed at www.sec.gov.