BASE CARBON INC - BCBNF STOCK NEWS

Base Carbon Inc. announces strong year-end 2023 financial results, including monetization of 1.1 million carbon credits generating $6.4 million, partnership with STX for carbon removal projects, and progress updates on Vietnam, Rwanda, and India projects.

Base Carbon Inc. (BCBNF) provides a corporate update and outlook for 2024, highlighting 2023 achievements and 2024 expectations. The company anticipates significant production and capital returns from its carbon projects in 2024, including the receipt of approximately 6 million carbon credits from the Vietnam household devices project and approximately 2.1 million carbon credits from the Rwanda cookstoves project. Base Carbon also executed a high-quality nature-based carbon removal project agreement in 2023 and a partnership with STX to establish an innovative fund for institutional investors to participate in offtake supported high-quality carbon removal projects.

STX Group (NEO: BCBN) (OTCQX: BCBNF) and Base Carbon Inc. announce the execution of a Letter of Intent (LOI) to jointly launch a new investment vehicle focused on developing innovative carbon removal projects. The new vehicle aims to bring integrity and scale to global markets seeking high-quality carbon removals. Investor marketing and project off-taker discussions are expected to begin in early 2024.

Base Carbon Inc. (NEO: BCBN) (OTCQX: BCBNF) has received the 'Article 6 Authorized Label' from Verra for its Rwanda cookstove project, marking the first time Verra has applied such label to a carbon project registered in its Verified Carbon Standard Program. This achievement is expected to expand the pool of buyers and increase market breadth for the company's correspondingly adjusted carbon credits. Base Carbon invested US$8,825,000 in the project and expects the first issuance of carbon credits to occur in Q1 2024.

Base Carbon Inc. (NEO: BCBN) (OTCQX: BCBNF) announces third-quarter 2023 consolidated financial results, including a new nature-based carbon removal project in India, capital deployment in Vietnam, and a net loss of $1.7 million. The company also purchased 4,476,920 common shares for cancellation under its NCIB program.

Base Carbon Inc. (NEO: BCBN) (OTCQX: BCBNF) will host an investor update call on November 15, 2023, providing a business update and responding to investor questions.

Base Carbon Inc. (NEO: BCBN) (OTCQX: BCBNF) announced its second-quarter 2023 financial results, with $9.96mm in cash, $104.1mm net income, and $1.95mm realized net gain from carbon credits. The Vietnam Project is 91% complete, generating $6.4mm settlement proceeds and $104.7mm unrealized accounting gain. The company also renewed its NCIB and may purchase up to 7,974,471 common shares in the next 12 months.