Base Carbon Announces Receipt of Article 6 Authorized Labeled Carbon Credits

Rhea-AI Summary

Base Carbon Inc. (BCBNF) has received a second transfer of 1,014,635 carbon credits from its Rwanda project, all designated with Verra's Article 6 Authorized label. This transfer comes after 23,060 credits were retired for global emission reductions and 115,300 credits were allocated to the Government of Rwanda. The company's total inventory from the Rwanda project now stands at 1,712,193 Article 6 Authorized labeled carbon credits.

Positive

• Received 1,014,635 new Article 6 Authorized carbon credits
• Total inventory increased to 1,712,193 carbon credits
• Successfully maintaining compliance with Rwanda government authorization requirements

Negative

• 138,360 carbon credits (23,060 retired + 115,300 to Rwanda government) not available for company revenue

TORONTO, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Base Carbon Inc. (Cboe CA: BCBN) (OTCQX: BCBNF) with operations through its wholly-owned subsidiary, Base Carbon Capital Partners Corp. (together, with affiliates, “Base Carbon”, or the “Company”), is pleased to announce that it has received a second transfer of 1,014,635 carbon credits from its Rwanda project, each designated with Verra’s Article 6 Authorized label.

Highlights

• Received second transfer of 1,014,635 Article 6 Authorized labeled carbon credits from the Rwanda project.
• The Company now holds a current inventory of 1,712,193 Article 6 Authorized labeled carbon credits generated from the Rwanda project.

Pursuant to the terms of the project agreement with the DelAgua Group, the project developer, and the letter of authorization issued by the Government of Rwanda (“LOA”) with respect to the project, the Company has received a transfer of 1,014,635 Article 6 Authorized labeled carbon credits. This volume is net of 23,060 carbon credits which have been retired to contribute towards global emission reductions and 115,300 carbon credits to be made available to the Government of Rwanda pursuant to the terms of the LOA. The Company now holds a total inventory of 1,712,193 carbon credits generated from the Rwanda project, all designated with Verra’s Article 6 Authorized label.

About Base Carbon

Base Carbon is a financier of projects involved primarily in the global voluntary carbon markets. We endeavor to be the preferred carbon project partner in providing capital and management resources to carbon removal and abatement projects globally and, where appropriate, will utilize technologies within the evolving environmental industries to enhance efficiencies, commercial credibility, and trading transparency. For more information, please visit www.basecarbon.com.

Media and Investor Inquiries

Base Carbon Inc.
Investor Relations
Tel: +1 647 952 3979
E-mail: investorrelations@basecarbon.com

Media Inquiries
E-mail: media@basecarbon.com

Cautionary Statement Regarding Forward Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws relating to the focus of Base Carbon’s business. In some cases, but not necessarily in all cases, forward-looking information may be identified by the use of forward-looking terminology such as “expects”, “anticipates”, “intends”, “contemplates”, “believes”, “projects”, “plans” or variations of such words and similar expressions or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events. These statements should not be read as guarantees of future performance, results, or achievements.

Although management believes that the anticipated future results, performance or achievements expressed or implied by the forward-looking information are based upon reasonable assumptions and expectations, readers should not place undue reliance on forward-looking information because it involves assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking information.

The forward-looking statements made herein are subject to a variety of risk factors and uncertainties, many of which are beyond the Company’s control, which could cause actual events or results to differ materially and adversely from those reflected in the forward-looking statements. Readers are cautioned that forward-looking statements are not guarantees of future performance. Specific reference is made to the management’s discussion and analysis for the Company’s fiscal year ended December 31, 2023 and the most recent Annual Information Form on file with the Canadian provincial securities regulatory authorities (and available on www.sedarplus.ca) for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.

Should one or more of the risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual events or results may vary materially and adversely from those described in the forward-looking information. The forward-looking information contained in this press release is provided as of the date of this press release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

FAQ

How many carbon credits did Base Carbon (BCBNF) receive in its second transfer from Rwanda?

Base Carbon received 1,014,635 Article 6 Authorized labeled carbon credits in its second transfer from the Rwanda project.

What is Base Carbon's (BCBNF) total carbon credit inventory from the Rwanda project?

Base Carbon currently holds a total inventory of 1,712,193 Article 6 Authorized labeled carbon credits generated from the Rwanda project.

How many carbon credits were allocated to the Government of Rwanda in Base Carbon's (BCBNF) latest transfer?

115,300 carbon credits were made available to the Government of Rwanda pursuant to the terms of the Letter of Authorization (LOA).