CARBON STREAMING CORP - OFSTF STOCK NEWS

Mast Reforestation secures $15 million financing agreement with Carbon Streaming Corporation to accelerate post-wildfire reforestation projects in the American West. Carbon Streaming will also invest $2 million in Mast. The financing will allow Mast to serve more landowners affected by wildfires and expand its reforestation services. In exchange, Carbon Streaming will receive carbon removal credits.

Carbon Streaming Corporation (OTCQB: OFSTF) reported significant progress in the Rimba Raya Project under new Indonesian carbon regulations. The company achieved a net income of $4.8 million for the three months ended December 31, 2022, despite an adjusted net loss of $5.7 million. Revenue from carbon credit sales was $1.1 million, with an average price of $8.61 per credit. The firm aims to receive carbon credits or royalties from 10+ projects in 2023, driven by a diversified portfolio and increasing demand in voluntary carbon markets, bolstered by regulatory developments. Cash reserves stood at $70.3 million, with no corporate debt.

The Carbon Strategy ETF (NYSE: KARB) will ring the Closing Bell at the New York Stock Exchange on February 7, 2023. KARB focuses on providing exposure to global compliance carbon markets and aims to track the Carbon Streaming BITA Compliance Index through liquid carbon allowance futures contracts. Tim Collins, President of Carbon Fund Advisors, emphasizes KARB's role in providing access to previously inaccessible carbon markets, aligning with global efforts to lower carbon footprints. Justin Cochrane, CEO of Carbon Streaming Corporation (OTCQB: OFSTF), highlights the ETF's potential for ESG-driven investors amid renewed climate commitments following the Paris Agreement.