Mr. James Tansey reports

OFFSETTERS ANNOUNCES AGM RESULTS AND PROVIDES PROGRESS UPDATE

Offsetters Climate Solutions Inc. has provided the results of the annual general meeting held on March 25, 2015, and has provided an update on the progress of the acquisition of Forest Finance GmbH assets as announced in a news release on Feb. 5, 2015.

The company is pleased to report that shareholders of the company have reappointed Dr. James Tansey, Alexander Zang, Georg Shattney, Graham Harris, John Poulter and Jim Logan to the board of directors, in addition to increasing the size of the board to nine members. The shareholders have also appointed Harry Assenmacher, founder and chief executive officer of Forest Finance GmbH, and Dirk Walterspacher, chief executive officer of Forest Finest and the CO2OL carbon business, as directors, in anticipation of the closing of the acquisition of assets of Forest Finance GmbH. Should the intended acquisition not be completed as anticipated, both Mr. Assenmacher and Mr. Walterspacher have agreed to resign their board seats upon termination of the acquisition. One board seat remains vacant. Shareholders also reappointed Davidson and Company LLP as auditor for the company, and adopted the proposed 2015 10-per-cent rolling stock option plan, which will become effective upon approval by the directors of the company and the TSX Venture Exchange.

Update on the acquisition of Forest Finance GmbH assets

As reported on Feb. 5, 2015, the company signed a letter of intent to acquire various assets of Forest Finance GmbH, based in Germany. The company is pleased to report that due diligence is nearing completion, and expects to submit all necessary documentation to the exchange for final review within the next two weeks. The acquisition remains subject to exchange approval. Upon completion and acceptance of the exchange review, it is anticipated that Offsetters and Forest Finance GmbH will complete a share exchange agreement, finalizing the acquisition.

Update on the third amendment agreement with Wildlife Works Carbon LLC

The company is pleased to report that the third amendment agreement with Wildlife Works Carbon LLC announced in a Feb. 20, 2015, news release, was finalized and signed by both parties. Under the original agreement, WWC was required to make its final payment of $620,000 (U.S.) by Jan. 1, 2015, relating to the acquisition of Offsetters' 50-per-cent interest in the Mai Ndombe REDD project in Democratic Republic of the Congo. Under the amended agreement, WWC shall remit payments to Offsetters to complete its outstanding obligation in four instalments throughout 2015, with a final payment being delivered on or before Dec. 15, 2015. Additional information is available at SEDAR.

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