Carbon Done Right Announces Non-Brokered Private Placement and Shares for Debt Settlement, and Provides Business Update

VANCOUVER, BC, May 12, 2025 (GLOBE NEWSWIRE) -- Carbon Done Right Developments Inc. ("Carbon Done Right" or the "Company") (TSXV: KLX) (FSE: Q1C), a leading provider of high-quality carbon credits sourced exclusively from afforestation and reforestation projects developed and owned by the Company, is pleased to announce its intention to carry out a non-brokered private placement to raise gross proceeds of up to $100,000 consisting of common shares offered at a price of $0.015 per share (the "Offering").

The Company plans to utilize offering proceeds for continued investment into operations and corporate support for the Company’s projects around the world. On May 7^th, the CEO, Dr James Tansey participated in a public event in Suriname alongside the Minister of Spatial Planning and Environment, Dr Marciano Dasai, to launch the Company’s newest mangrove restoration project, targeting up to 5,000 ha of heavily degraded land on the coastline. The Company has secured a lease and initial environmental approvals for the project, which aligns the country’s sustainable development goals and the restored area will also protect vulnerable areas from sea level rise.

The Company’s flagship forest carbon restoration project in Sierra Leone was validated in December 2024 under Verra’s new forest restoration protocol, VM0047. Under the previously announced pre-purchase agreement (April, 2023), the Offtaker had the right to expand their investment in the planted area from 5,000ha to 25,000ha. The Offtaker has declined that option and has a final outstanding pre-purchase payment under the terms of the original agreement that the Company considers to be overdue. The Company is pursuing opportunities with a number of new partners to secure investment to meet the project’s future investment needs.

The Offering is expected to close on or around May 26, 2025, subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional approval of the TSX Venture Exchange. The Company may pay finders' fees under the offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The securities issued under the Offering will be subject to a hold period under applicable securities laws in Canada expiring four months and one day from the closing date of the Offering.