Carbon Done Right (TSXV:KLX)

Carbon Done Right Developments Inc. Provides Bi-Weekly MCTO Status Update

Carbon Done Right Developments Inc. (TSXV: KLX) (FSE: Q1C0) (the "Company" or "Carbon Done Right"), a company that carries on the business of developing validated and verified carbon credits from afforestation and reforestation of degraded land areas and marine ecosystems, is providing a bi-weekly status update in accordance with National Policy 12-203-Management Cease Trade Orders ("NP 12-203").

As previously announced on April 30, 2024 and further to the news releases of the Company dated May 15, 2024, and May 31, 2024, the Company applied for a management cease trade order ("MCTO") due to a delay in the filing of the audited consolidated financial statements for the year ended December 31, 2023, annual management's discussion and analysis for the same period and management certification of annual filings (collectively, the "Filings"). The MCTO was granted by the British Columbia Securities Commission on April 30, 2024, and the Company continues to work diligently with its auditors and expects to file the Filings as soon as possible, and in any event no later than June 30, 2024.

The MCTO restricts the Company's Chief Executive Officer and the Chief Financial Officer from trading in the Company's securities but does not affect the ability of other shareholders, including the public, to trade in securities of the Company.

The Company confirms that it will continue to satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reporting in the form of news releases for so long as it remains in default of the above noted filing requirements.

About Carbon Done Right

'Carbon Done Right' is a technology enabled rainforest planting company that carries on the business of developing validated and verified carbon credits from afforestation and reforestation of degraded land areas and marine ecosystems, including mangroves, for sale into international voluntary carbon markets. Carbon Done Right works upstream as a direct owner and operator of projects, addressing a key supply constraint in the current market and the rapidly growing demand for carbon credits in global voluntary and regulated markets. The Company achieves this by investing in the exploration, restoration and management of terrestrial and marine systems that can either be protected to enhance the sequestration of greenhouse gases or restored from a degraded status to fully productive ecosystems. Carbon Done Right draws on the experience of a senior executive team and board that provide access into key target jurisdictions through relationships in the mining and natural resources sectors, combined with decades of experience in carbon markets. The Company deploys capital at risk under various arrangements (including cooperation, assignment, and production sharing agreements) with large landowners and governments in various suitable jurisdictions around the world.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Carbon Done Right Developments Inc.
James Tansey, Chief Executive Officer
Suite 390, 1050 Homer Street
Vancouver, British Columbia V6B 2W9
Email: james.tansey@klimatx.com

Cautionary Statements

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "intends" "expects" and similar expressions which are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the MCTO and completion of the audit of the Company's annual financial statements. Carbon Done Right cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of Carbon Done Right. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Carbon Done Right. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release, and Carbon Done Right does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

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Carbon Done Right Provides Project and Management Updates

Carbon Done Right Provides Project and Management Updates

 

Carbon Done Right (TSXV: KLX) is pleased to announce a number of updates to the Company's carbon credit project development activities and management team:

 
  • Planting at the Company's West African Rewilding project has continued through the planting season, supported by strong rainfall. The Company still anticipates achieving a total planted area of 3400 ha by the end of this season.
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  • The Company has finalized the Project Design (PD) for the Rewilding project under Verra's new VM0047 protocol and has also completed an extensive site visit with the audit company responsible for validating the PD, a key milestone in the project development.
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  • The Company continues to work on negotiations with existing and new investors to secure capital at the project level to support the continued growth of our pipeline.
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  • The Company continues to advance negotiations with national and regional governments in other jurisdictions and will provide further updates in the coming weeks.
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CEO Dr. James Tansey commented ‘This has been challenging year for carbon markets with lots of headwinds. Our early decision to focus on restoration projects has insulated our from many of these challenges, as the market has given strong indications that restoration based carbon projects can attract a price premium. We have delivered on our priority milestones over the first part of 2023 and look forward to providing further updates. Our view remains that carbon markets will return to their previous strength and that both conservation and restoration projects are critical to scaling Nature Based Solutions'

News Provided by GlobeNewswire via QuoteMedia

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Carbon Done Right CEO James Tansey stated, "This fifth milestone demonstrates our continued progress with the project's implementation. Our team is actively planting through the summer and has already cleared over 500 ha of land. The restoration sites focus on abandoned land in Sierra Leone and provide direct income to the smallholders within these communities and long-term revenue sharing benefits. Restoring nature's capacity to sequester carbon is a key strategy for reversing and preventing climate change. The in-country team is busy preparing for the 2024 planting season where we expect to plant native tree species on up to 2,000 ha of additional degraded land."

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