Carbon Streaming Announces Change of Auditor

Rhea-AI Summary

Carbon Streaming Corporation (OTCQB: OFSTF) has changed its auditor from Baker Tilly WM LLP to Deloitte LLP, effective August 11, 2022. This decision follows the Audit Committee's recommendation and the Board's approval. No reportable events occurred between Carbon Streaming and Baker Tilly, as defined by National Instrument 51-102. Carbon Streaming focuses on ESG principles, providing investors access to carbon credits and investing in projects that contribute to carbon offset initiatives worldwide.

Positive

• Appointment of Deloitte as auditor may enhance financial credibility.
• Focus on carbon credits aligns with increasing global emphasis on environmental sustainability.

Negative

• None.

TORONTO--(BUSINESS WIRE)-- Carbon Streaming Corporation (NEO: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) announced today that it has changed its auditor to Deloitte LLP (“Deloitte”) from Baker Tilly WM LLP (“Baker Tilly”), effective August 11, 2022. Following the recommendation of the Audit Committee, Carbon Streaming’s Board of Directors accepted the resignation of Baker Tilly and approved the appointment of Deloitte as the Company’s auditor until the next annual general meeting of the Company.

In accordance with National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”), the Notice of Change of Auditor, together with the response letters from Deloitte and Baker Tilly, have been filed on SEDAR. There were no “reportable events”, as the term is defined in NI 51-102, between the Company and Baker Tilly.

About Carbon Streaming

Carbon Streaming is an ESG principled company offering investors exposure to carbon credits, a key instrument used by both governments and corporations to achieve their carbon neutral and net-zero climate goals. Our business model is focused on acquiring, managing and growing a high-quality and diversified portfolio of investments in projects and/or companies that generate or are actively involved, directly or indirectly, with voluntary and/or compliance carbon credits.

The Company invests capital through carbon credit streaming arrangements with project developers and owners to accelerate the creation of carbon offset projects by bringing capital to projects that might not otherwise be developed. Many of these projects have significant social and economic co-benefits in addition to their carbon reduction or removal potential.

The Company has executed carbon credit streaming agreements related to over 10 projects around the globe, including nature-based, biochar, methane avoidance, clean cookstove and water filtration projects.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220812005097/en/

ON BEHALF OF THE COMPANY:

Justin Cochrane, Chief Executive Officer

Tel: 647.846.7765

info@carbonstreaming.com

www.carbonstreaming.com

Investor Relations

Andrea Cheung, VP, Investor Relations

info@carbonstreaming.com

Media

Amy Chambers, Director, Marketing, Communications & Sustainability

media@carbonstreaming.com

Source: Carbon Streaming Corporation

FAQ

What is the significance of Carbon Streaming's auditor change to Deloitte on August 11, 2022?

The change to Deloitte may enhance the company's financial oversight and credibility, which is important for investor confidence.

Did Carbon Streaming report any issues during its auditor transition from Baker Tilly?

No reportable events occurred between Carbon Streaming and Baker Tilly during the transition.

How does Carbon Streaming plan to utilize carbon credits?

Carbon Streaming aims to invest in projects that generate or are involved with carbon credits to assist in achieving carbon neutrality.

What sectors does Carbon Streaming invest in for carbon offset projects?

Carbon Streaming invests in various sectors, including nature-based, biochar, methane avoidance, clean cookstove, and water filtration projects.