Base Carbon Provides Corporate Update and Announces Investor Update Call - Seite 2

Carbon credit methodologies, which have been approved by Verra (the project’s carbon credit registry), regularly go through reviews and updates based on the latest science-based research to continuously improve the integrity of carbon credits issued by the registry. As previously disclosed, Verra introduced a new version of its cookstove and water purifier methodology (VMR0006 Energy Efficiency and Fuel Switch Measures in Thermal Applications, v1.2) in July of 2023. Although the revised methodology is not required to be applied to the project, which was registered with Verra in 2022, changes to the Vietnam project methodology were recently adopted voluntarily to align with the updated scientific reviews and to maintain what the Company believes are the most current market standards and best practices for projects of this type. The Company also believes that by adopting the latest science-based research, the Vietnam project carbon credits will be considered higher quality by the market with potential pricing upside as compared to carbon credits generated under the previous methodological standards. There has been no impact to the quantity or commercial terms of the initial 7.4 million carbon credits contracted for sale pursuant to the project’s fixed price offtake arrangement.  

Investor Update Call

An investor update call will be held on Tuesday, April 23, 2024, at 11:00 a.m. Eastern Time (EDT). The management team will provide a business update and respond to investor questions via Zoom Webinar. Registration instructions are published below. The Company invites current and prospective shareholders to attend this business update call and Q&A session.

DATE: Tuesday, April 23, 2024
TIME: 11:00 a.m. EDT
LOCATION: Zoom Webinar. To receive the meeting link and passcode, please register here.
QUESTIONS: Please submit questions ahead of time to: [e-mail].

Annual Meeting of Shareholders

The Company announces that it intends to hold its annual meeting of shareholders on June 25, 2024, with a meeting record date of May 10, 2024. Further information will be provided to shareholders.

Option Grant

The Company has approved and issued an aggregate grant of 4,325,000 options to purchase common shares of the Company to all directors, officers and employees. 2,037,500 options have an exercise price of $1.00 per common share and 2,287,500 options have an exercise price of $0.50 per common share. All options are subject to specific vesting provisions.