CARBON STREAMING CORP - OFSTF STOCK NEWS

Carbon Streaming Corporation (OTCQB: OFSTF) reported the Rimba Raya Project's validation under Indonesia's new carbon regulation (Reg 21). This marks Rimba Raya as the first REDD+ carbon project validated under the SRN carbon registry, allowing for domestic and international carbon trading. The project encompasses 36,331 hectares and is expected to generate approximately 2.7 million tonnes of CO₂e annually until 2073. Verification is set for January 2023, aiming for around 9.8 million carbon credits.

Carbon Streaming Corporation (OTCQB: OFSTF) reported a net loss of $2.4 million for Q1 2023, with an adjusted net loss of $5.3 million. The company ended the quarter with $72.7 million in cash and no corporate debt. Major developments include new carbon credit agreements, including the FCG Amazon Portfolio Royalty and the Nalgonda Rice Farming Stream. The company is focused on diversifying its portfolio, which consists of over 20 projects generating carbon credits. An update call is scheduled for November 14, 2022.

Carbon Streaming Corporation (OTCQB: OFSTF) successfully held its Annual General Meeting where all eight proposed directors were elected. A total of 18,482,192 shares, accounting for approximately 39.5% of outstanding shares, were voted. The shareholders also appointed Deloitte LLP as the auditor, authorizing directors to set their remuneration. Voting results showed strong support for the nominees, with approval percentages for individual directors ranging from 73.6% to 91.5%. For complete results, visit the Company’s Report of Voting Results dated November 9, 2022.

Carbon Streaming Corporation (OTCQB: OFSTF) has announced a carbon credit streaming and royalty agreement with Standard Biocarbon for a biochar pyrolysis facility in Enfield, Maine. The project aims to convert waste biomass into biochar, removing approximately 90,000 tonnes CO₂ equivalent over 30 years. Carbon Streaming will receive 100% of the generated CO₂ removal certificates (CORCs) and a royalty on biochar sales. The total upfront investment stands at US$1.3 million, with initial production expected in late 2023.

Carbon Streaming Corporation (OTCQB: OFSTF) has announced a carbon credit streaming agreement with Core CarbonX Solutions for a rice farming project in Telangana, India. The agreement aims to reduce methane emissions through improved farming practices, generating approximately 2.5 million Verified Carbon Units (VCUs) over seven years. An initial deposit of US$1.55 million has been made, with expectations of a payback period of less than four years based on current market pricing, which ranges from US$6.50 to US$9/VCU.

Carbon Streaming Corporation (OTCQB: OFSTF) announced financial results for the year ended June 30, 2022, showcasing significant growth in its portfolio of carbon credit projects. The company reported a net income of $29.2 million for Q4, attributed mainly to non-cash revaluation. However, it also recorded a full-year net loss of $12.9 million. Highlights include partnerships to generate over 100 million carbon credits and a strong cash position of $93.2 million with no corporate debt. Looking ahead, Carbon Streaming expects to initiate cash flow from credit sales by the end of 2023.

Carbon Streaming Corporation (OTCQB: OFSTF) announced the rescheduling of its financial results for the year ended June 30, 2022. The release has been postponed from September 14, 2022, to September 28, 2022, to finalize financial reporting and complete annual audit requirements. Carbon Streaming focuses on carbon credits, providing investors with exposure to projects that generate voluntary and compliance carbon credits. They have agreements on over 10 projects globally, enhancing environmental sustainability.

Carbon Fund Advisors has launched the Carbon Strategy ETF (NYSE: KARB), targeting global compliance carbon markets. The ETF aims to offer exposure to carbon allowance futures, addressing barriers that prevent investors from accessing these markets directly. The global compliance carbon markets surged in value from 186 billion euros in 2018 to 760 billion euros in 2021. The ETF will focus on heavily traded markets in Europe and North America, including EUAs and CCAs. This initiative coincides with a rising demand for emissions trading systems amid climate change regulations.

Carbon Streaming has signed an exclusive term sheet with Future Carbon Group to invest US$3 million in four REDD+ projects located in the Brazilian Amazon. In exchange, Carbon Streaming will receive a 5% royalty on carbon credit revenues from these projects, which are expected to generate premium pricing due to their advanced registration status. The agreement aims to foster future collaboration on additional carbon projects, including the Bonobo Peace Forest Projects in the Democratic Republic of Congo, further reinforcing Carbon Streaming's commitment to climate action.