Base Carbon Announces Credit Issuance and Revenues From Water Purifiers

TORONTO, June 27, 2023 (GLOBE NEWSWIRE) -- Base Carbon Inc. (NEO: BCBN) (OTCQX: BCBNF) ("Base Carbon", or the "Company"), a financier of emission reduction, removal, and related climate action projects, announced today that it has received revenues from the sale of 95,318 carbon credits generated from the water purifier component of the Vietnam Household Devices Project (the “Project”) pursuant to its agreement with Project developer, Sustainability Investment Promotion and Development Joint Stock Company (“SIPCO”), and offtake arrangement with the Citigroup Global Markets Limited (“Citigroup”).

Highlights

• As previously disclosed, Base Carbon facilitated a carbon credit offtake agreement between Citigroup and SIPCO, developer of the Project, related to the initial 7.4 million carbon credits issued from the Project.
• Base Carbon has now received full payment associated with delivering the initial 95,318 water purifier generated carbon credits to Citigroup.

About Base Carbon

Base Carbon provides capital, development expertise and management operating resources to projects involved in the voluntary carbon markets. The Company seeks to be the preferred carbon project partner in providing capital and developmental resources to carbon projects globally and, where appropriate, will endeavour to utilize technologies within the evolving carbon industry to enhance efficiencies, commercial credibility, and trading transparency. For more information, please visit www.basecarbon.com.

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Michael Costa, Chief Executive Officer, and Ryan Hornby, Chief Legal Officer are responsible for this press release.

Cautionary Statement Regarding Forward Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws with respect of the Company, including but not limited to, statements relating to the focus of Base Carbon’s business. In some cases, but not necessarily in all cases, forward-looking information may be identified by the use of forward-looking terminology such as “expects”, “anticipates”, “intends”, “contemplates”, “believes”, “projects”, “plans” or variations of such words and similar expressions or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events. Statements about, among other things, Base Carbon’s strategic plans are all forward-looking information. These statements should not be read as guarantees of future performance, results, or achievements.