Offsetters Climate Solutions Inc.
TSX VENTURE : COO
FRANKFURT : 9EA

Offsetters Climate Solutions Inc.

September 10, 2013 18:10 ET

Offsetters Announces Second Quarter Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 10, 2013) - Offsetters Climate Solutions Inc. ("OCS" or the "Company", formerly ERA Carbon Offsets Ltd.) (TSX VENTURE:COO)(FRANKFURT:9EA) is pleased to announce its financial results for the quarter ended June 30, 2013.

First half, 2013 Financial Highlights

  • Sales Revenue for the six months ended June 30, 2013 was $3,493,783.
  • Income from last four quarters totaled $830,205.
  • Cash and equivalents at June 30, 2013 was $1,668,541.

The last four quarters saw income realised through the Company's ongoing business with leading clients including Aimia, Harbour Air, and Forest Carbon Group AG, including the first sales of validated and verified carbon offsets from the Company's Mai Ndombe REDD project in the Democratic Republic of Congo. Additional revenue and stable cash flows are being derived from a strong advisory services business in life cycle analysis and greenhouse gas mitigation strategies for companies seeking to manage their environmental impacts. The Company has also begun to provide technical and project development services for compliance-eligible forest carbon projects in the United States, supplementing cash flows and allowing the company to provide existing, deep technical capacity to build new markets outside of Canada.

Dr. James Tansey, CEO of Offsetters, commented, "We are pleased with our results to date, and especially with our seamless merger following ERA Carbon Offsets' acquisition of Offsetters and Carbon Credit Corporation. We have also seen steady growth in our main business lines in North America and internationally, which we expect to carry through the second half of the year. We do expect revenues to remain variable from quarter to quarter due to our clients' annual business cycles."

All financial information is prepared in accordance with International Financial Reporting Standards ("IFRS") and reported in Canadian dollars unless otherwise noted. The unaudited consolidated interim financial statements and associated notes for the three and six months ended June 30, 2013, along with the related management's discussion and analysis ("MD&A") are available on SEDAR at www.sedar.com.

James Tansey, Ph.D., President and CEO

Offsetters Climate Solutions Inc.

About Offsetters Climate Solutions Inc.

Offsetters is Canada's largest and most diversified carbon management solutions company. Its team of industry leaders specializes in the origination, development and commercialization of high-quality carbon offset projects, and through a comprehensive offering of sustainability consultancy services Offsetters helps organizations understand, reduce and offset their climate impact. A combination of ERA Carbon Offsets, Offsetters and CCC, Offsetters is based in Vancouver, Canada and has worked with over 150 leading business organizations including Aimia, Vancity, lululemon athletica, Catalyst Paper, Harbour Air, HSE - Entega, and Shell Canada Limited. Offsetters is publicly listed company on the Toronto Venture Exchange (TSX VENTURE:COO) and in Frankfurt (FRANKFURT:9EA). For more information, please visit us at www.offsetters.ca.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND RISKS:

Certain of the statements and information in this news release may constitute "forward-looking information" within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements. When used in this news release the words "anticipate", "believes", "estimates", "expects", "intends", "may", "project", "plan", "should", "forecast", "outlook", "budget", "anticipated", "future", "potential" and similar words and expressions may identify forward-looking statements or information.

The statements in this news release reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, known and unknown, could cause actual results, performance or achievements to be materially different from results, performance or achievements anticipated by management. In particular, and given that the Company at present has a working capital deficiency, there can be no certainty that the Company will be able to meet its ongoing financial or working capital obligations, including its obligations under the agreement to purchase Carbon Credit Corp, and Offsetters Clean Technology Inc. or any obligations it may have to fund current or future carbon offset projects. The Company could be adversely affected by risks and uncertainties as disclosed in the Company's most recent MD&A filing and financial statements as filed at www.sedar.ca.

The Company does not intend, and does not assume any obligation to update any forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information other than as required by applicable securities or other laws.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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