Core Insights - Base Carbon Inc. reported its year-end 2025 consolidated financial results, highlighting advancements in its project portfolio and financial performance [1][3]. Company Highlights - The company achieved significant milestones in 2025, including the first issuances under a new methodology in Rwanda and compliance-market tagging, which enhanced its project portfolio [3]. - The CEO emphasized a focus on disciplined risk management and unlocking value within the current portfolio and contractual project expansion options [3]. Financial Results - As of December 31, 2025, the company had total assets of $108.9 million, including $5.7 million in cash, $79.2 million in investments in carbon credit projects, and $21.2 million in carbon credit inventory [4][7]. - The company recorded net earnings of $0.2 million, with $1.8 million from realized cash settled gains and $11.3 million from unrealized gains on carbon credit investments [5]. - Total liabilities were $8.4 million, primarily from deferred income tax liabilities [4]. Project Developments Rwanda Cookstoves Project - The project achieved Verra's CORSIA-eligible designation, enhancing monetization pathways and pricing visibility [5][8]. - Approximately 2.0 million carbon credits have been issued under the new VM0050 methodology, with the first sales generating net proceeds of approximately $0.7 million [9]. Vietnam Household Devices Project - The project completed Phase 1, issuing approximately 7.4 million carbon credits and generating $1.8 million in cash proceeds in 2025 [10]. - The project has entered Phase 2, allowing Base Carbon to purchase future carbon credits at a fixed price, providing growth optionality [12]. India ARR Project - The project completed the planting of approximately 6.5 million trees and transitioned to Verra's updated VM0047 methodology [13]. - Cumulative capital deployed in the project was approximately $8.2 million, with ongoing validation and verification activities [15].

Core Viewpoint - Carbon Streaming Corporation reported a strengthened financial position for the fiscal year ended December 31, 2025, achieving positive operating cash flow and a net increase in cash, while focusing on maximizing value from existing assets and exploring strategic options to enhance shareholder value [2][4]. Financial Performance - The company ended the year with $39.1 million in cash and no corporate debt, generating interest income on its cash [4]. - Positive operating cash flow was achieved for Q4 2025, primarily driven by settlements from carbon credit streaming and royalty agreements, alongside ongoing cost reduction initiatives [4]. - A net increase in cash of $1.8 million was recorded during the year [4]. - Operating loss for the year was $4.7 million, a significant reduction from the $68.3 million loss in 2024 [4][10]. - Net loss for the year was $2.5 million, down from $67.4 million in 2024 [4][10]. Strategic Initiatives - The company executed the Community Carbon buyout, expected to deliver $6 million in cash proceeds over the next 12 months [2][39]. - Amendments to the Azuero Reforestation Stream eliminated all further funding commitments while retaining the option to participate in future funding [2][39]. - Multiple contract settlements resulted in total cash proceeds of $1.3 million and the cancellation of 4,539,180 common shares [4]. Legal Proceedings - A lawsuit was filed against certain former executives and board members to hold them accountable for actions causing financial harm to the company [3][28]. - Counterclaims have been filed by certain defendants, which the company believes to be without merit [3][29]. Portfolio Updates - The Community Carbon Stream buyout agreement was finalized, with total consideration of $6 million, including a non-refundable deposit and installment payments [9][11]. - The Azuero Reforestation Stream amendments allow for future funding participation without current obligations [12]. - The Nalgonda Rice Farming project is under review, with its fair value determined to be $nil as of December 31, 2025 [17]. Settlements and Agreements - Settlements related to the Rimba Raya Stream and Magdalena Bay Blue Carbon Stream resulted in cash proceeds and share cancellations [39]. - Repayment agreements related to the Amazon Portfolio Royalty are expected to yield approximately $1.1 million by Q2 2026 [20][21]. Operational Efficiency - The company significantly reduced ongoing operating expenses in 2025 by cutting employee headcount and renegotiating vendor agreements [4][38]. - The CEO does not receive a salary, and the CFO is on a part-time salary, reflecting the company's commitment to cost management [4].

Core Viewpoint - Base Carbon Inc. has successfully issued 639,609 carbon credits from the Rwanda Cookstoves Project, marking a significant milestone in its operations and the transition to Verra's VM0050 methodology, which enhances the project's compliance and marketability in carbon offsetting markets [1][2][4]. Group 1: Carbon Credit Issuance - The issuance of 639,609 carbon credits is the fourth from the Rwanda Cookstoves Project and the first under the updated VM0050 methodology, indicating a successful transition and operational reliability [1][2]. - The carbon credits are expected to receive CORSIA eligible tagging after the purchase of required insurance, which will enhance their compliance alignment and market value [1][2]. Group 2: Market Engagement and Sales Strategy - Following confirmation of CORSIA-eligible tagging, the credits will be available for sale in global aviation carbon offsetting markets, with ongoing sales discussions and RFP processes with potential buyers [3]. - The company aims to balance near-term revenue generation with long-term inventory value maximization, leveraging its strong financial position and growing portfolio of eligible carbon credits [3][4]. Group 3: Project Development and Future Outlook - The successful transition to VM0050 methodology reflects the full maturation of the Rwanda Cookstoves Project, positioning the company favorably within the global compliance carbon market [4]. - The company anticipates regular issuance of CORSIA-eligible credits, supported by an attractive supply and demand environment during CORSIA's first compliance period [4].

Core Insights - Carbon Done Right Developments Inc. is seeking additional investment for its ongoing afforestation and reforestation project in Sierra Leone, which currently has 2,500 hectares planted under a pre-purchase agreement signed in 2023 [1] - The RML project has been validated under Verra's new restoration protocol, VM0047, and has received a pre-issuance rating from Sylvera, indicating strong community support and adherence to fair practices [2] - The project aims to expand from an initial mapped area of 5,000 hectares to a total size of at least 25,000 hectares, focusing on planting and restoring degraded lands with native tree species [2] Company Overview - Carbon Done Right is an operator of nature-based carbon assets, catering to the increasing demand for carbon credits from companies aiming to achieve Net Zero goals [4] - The company invests in the exploration, restoration, and management of terrestrial and marine ecosystems to enhance greenhouse gas sequestration or restore degraded areas [4] - Carbon Done Right collaborates with various governments and engages in different arrangements, including cooperation and production sharing agreements, across multiple jurisdictions such as Sierra Leone, Yucatan, Guyana, and Suriname [4]

Core Viewpoint - Carbon Streaming Corporation has entered into a Buyout Agreement with Community Carbon and UpEnergy Group for a total consideration of USD$6 million, which includes rights to the Community Carbon Stream and the full inventory of carbon credits [1][2]. Financial Details - The total payment of USD$6 million consists of: - A non-refundable deposit of USD$100,000 payable on or before March 23, 2026 - A closing payment of USD$4.9 million for the Community Carbon Stream payable on or before May 30, 2026 - USD$1 million for the purchase of all carbon credits from the Project Portfolio, payable in four installments on or before July 1, 2026, October 1, 2026, January 1, 2027, and April 1, 2027 [2][6]. Strategic Focus - The company aims to maximize shareholder value by optimizing its existing portfolio of projects that generate high-quality carbon credits, while also having a positive impact on the environment and local communities [3]. - The CEO emphasized that the transaction is in the best interests of shareholders and that the company will continue to explore acquisitions, divestments, and other strategic opportunities to enhance shareholder value [2][3].

Core Insights - Base Carbon Inc. has achieved full eligibility and tagging for its Rwanda Cookstoves Project under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), marking a significant milestone for the company [1][2] - The project is among the first globally to receive CORSIA-eligible designation, allowing for immediate sales in the global aviation carbon offsetting markets, with demand for Phase 1 of CORSIA estimated to reach between 146 to 236 million credits [2] - The company has contracted 300,537 CORSIA-eligible credits for sale, representing its first monetization of these credits, with financial settlements expected in the coming weeks [3] Company Operations - Base Carbon's Rwanda project partner, DelAgua Group, completed necessary technical requirements for CORSIA eligibility, including migrating to the latest methodological standard and securing insurance coverage [2] - Prior to sales, Base Carbon held 1,076,230 VM0050 Rwanda carbon credits, which now includes 733,874 CORSIA-eligible credits and 342,356 VM0050 credits included in Rwanda's first Biennial Transparency Report [4] - The company anticipates regular carbon credit issuances on a biannual basis following a methodological update last fall [4] Market Positioning - The CEO of Base Carbon emphasized that CORSIA tagging is a key validation milestone for the company's strategy, and initial sales confirm the business model and asset positioning [5] - With increasing demand from global airlines and limited supply of eligible credits, the company is well-positioned to capture value through expanded monetization opportunities as the CORSIA market matures [5] - Base Carbon aims to be a preferred partner in the global voluntary carbon markets, providing capital and management resources to carbon removal and abatement projects [6]

Core Viewpoint - Carbon Streaming Corporation has announced amendments to its carbon credit streaming agreement with Azuero Reforestación Colectiva, S.A. for the Azuero Reforestation Project in Panama, which will impact the project's scale and expected carbon credit generation [1][3]. Project Amendments - The project plan has been revised, reducing the area to be restored from 10,000 hectares to a minimum of 7,500 hectares, and the expected carbon dioxide equivalent (tCO2e) removal has decreased from 3.24 million tonnes to 2.32 million tonnes [2][3]. - If Carbon Streaming does not exercise its funding option, it will receive approximately 54,000 carbon credits, which is about 2.3% of the total credits [3]. Funding Options - Carbon Streaming has an option to participate in future funding, with an upfront deposit of US$1.2 million already paid. The option can be exercised by June 30, 2026, or June 30, 2027, requiring additional funding of US$4.6 million and US$3.8 million, respectively [3][4][5]. - If the option is exercised in the First Election Period, the project will restore a minimum of 9,539 hectares and remove 2.94 million tonnes of tCO2e, resulting in approximately 357,000 carbon credits (12.1% of total credits) [4]. - If the option is exercised in the Second Election Period, the project will restore a minimum of 9,050 hectares and remove 2.79 million tonnes of tCO2e, resulting in approximately 295,000 carbon credits (10.6% of total credits) [5]. Offtake Agreement - The offtake agreement between Microsoft and Carbon Streaming to purchase 100% of the carbon credits generated from the project through 2040 remains in place [6]. Financial Position - Carbon Streaming currently holds C$53.7 million in cash, has no debt, and has 48.5 million shares outstanding [7].

Core Insights - Carbon Streaming Corporation has amended the terms of its carbon credit streaming agreement with Azuero Reforestación Colectiva, S.A. for the Azuero Reforestation Project in Panama [1][3] Project Amendments - The project plan has been revised and refined [2] - Carbon Streaming has no ongoing funding obligations but retains an option to participate in future funding, having already paid an upfront deposit of US$1.2 million [3] - The option can be exercised by Carbon Streaming on or before June 30, 2026, or June 30, 2027, requiring additional funding of US$4.6 million and US$3.8 million, respectively [3] Carbon Credit Generation - Initial carbon credit issuance is expected in 2029, continuing through to 2052 [3] - If the option is not exercised, the project will restore a minimum of 7,500 hectares and remove 2.32 million tonnes of CO2 equivalent, generating approximately 54,000 carbon credits [3] - If the option is exercised in the First Election Period, the project will restore a minimum of 9,539 hectares, remove 2.94 million tonnes of CO2 equivalent, and generate approximately 357,000 carbon credits [4] - If the option is exercised in the Second Election Period, the project will restore a minimum of 9,050 hectares, remove 2.79 million tonnes of CO2 equivalent, and generate approximately 295,000 carbon credits [5] Offtake Agreement - The offtake agreement between Microsoft and Carbon Streaming to purchase 100% of the carbon credits received from the project through 2040 remains in place [6] Financial Position - The company currently has C$53.7 million in cash, no debt, and 48.5 million shares outstanding [7]

Company Highlights - Base Carbon Inc. reported total assets of $111.8 million as of September 30, 2025, a slight decrease from $112.1 million on December 31, 2024 [3] - Total liabilities decreased to $8.9 million from $9.1 million, while total shareholders' equity remained relatively stable at $102.9 million compared to $103.0 million [3] - The company holds $8.0 million in cash and cash equivalents and has a carbon credit inventory valued at $23.1 million [3] Rwanda Cookstoves Project - An unrealized gain of approximately $11.8 million was recognized during Q3 2025, attributed to an increase in expected carbon credits and higher anticipated pricing [4] - The project has transitioned to Verra's VM0050 methodology, enhancing its eligibility for compliance markets like CORSIA [5][7] - The company expects to hold around 1.1 million VM0050 carbon credits in inventory post-quarter [5] Vietnam Household Devices Project - The project has entered Phase 2, allowing the company to purchase future carbon credits at $5 each, with total cash proceeds from sales reaching approximately $36.3 million [9] - The project has successfully returned 100% of its capital investment, generating a cash gain of about $15.5 million [9] India Afforestation, Reforestation, and Revegetation (ARR) Project - The company has expanded its contractual options to plant an additional 20 million trees, with the initial phase of 6.5 million trees already planted [10] - The project received comments from Verra regarding its validation submission, aligning with the company's expected timelines [11] Auditor Appointment - BDO Canada LLP has been appointed as the new auditor for the 2025 fiscal year, reflecting the company's commitment to high corporate governance standards [12]

Core Viewpoint - Carbon Streaming Corporation's CEO, Mr. Marin Katusa, has acquired 74,500 common shares at a price of $0.67 per share, totaling $49,915, indicating a personal investment in the company [1]. Summary by Sections Acquisition Details - The Acquiror purchased 74,500 common shares at $0.67 each for a total of $49,915 [1]. - Prior to the acquisition, the Acquiror owned 4,101,000 common shares, representing approximately 8.5% of the total shares outstanding [2]. - After the acquisition, the Acquiror's total ownership increased to 4,175,500 common shares, approximately 8.6% of the total shares outstanding [3]. Warrant Information - The Acquiror held 1,170,000 common share purchase warrants before and after the acquisition [2][3]. - If all warrants were exercised, the Acquiror would control 5,345,500 common shares, representing approximately 10.8% on a partially diluted basis [3]. Purpose of Acquisition - The shares were acquired for investment purposes, with the potential for future acquisitions or disposals depending on market conditions [4]. Regulatory Compliance - The press release is issued in compliance with National Instrument 62-103, detailing early warning reporting requirements [5].