Klimat X: Embracing the Carbon Credit Economy to Address Climate Change

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.
 
• 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.
 
• 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.
 
• The Company continues to advance negotiations with national and regional governments in other jurisdictions and will provide further updates in the coming weeks.
 

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'

Carbon Done Right (TSXV: KLX), remains committed to completing a dual listing on London's AIM Exchange, but will delay that process until market conditions in the UK and Canada improve. The Company completed a final draft of the Admission Document required to complete a London AIM Exchange listing but encountered challenges related to the timing of the UK election, concerns about the state of public markets overall and delays from the requirement that the full year 2023 financial audit be completed ahead of the listing.

While the delays represent a setback to the Company's ambitions to bring and exciting, diversified and vertically integrated carbon developer to the UK market, the team has continued to make advances at the country level including a number of milestones that will be announced in the coming weeks. Notably, the Company completed the Project Design for the flagship large scale restoration project in Sierra Leone, is working on the final validation of that project including a site visit by the validator in early August. The Company recently announced the fulfilment of the latest milestone under the pre-purchase agreement with a large corporate buyer.

Carbon Done Right Developments Inc. (TSXV: KLX) (FSE: Q1C) ("Carbon Done Right" or the "Company") a leading provider of high-quality carbon credits sourced exclusively from afforestation and reforestation projects developed and owned by the Company and its stakeholders, is pleased to announce the completion of all milestones required for the fifth disbursement under the pre-purchase agreement announced on the 14th June, 2023.

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."

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, announces that its principal regulator, the British Columbia Securities Commission, has granted an extension to the existing management cease trade order granted on April 30, 2024 (the "MCTO") from June 30, 2024 to July 12, 2024. The MCTO was granted 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").

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, the Company made an application for listing of its common shares on the London Stock Exchange's Alternative Investment Market (the "AIM Admission"). It is expected that the AIM Admission will be completed by June 30, 2024, subject to receipt of the necessary approvals from the LSE.