TORONTO, March 02, 2022 (GLOBE NEWSWIRE) — Base Carbon Inc. (including its subsidiaries, “Carbon Base” or the “Company”) is pleased to announce the achievement of a number of key milestones, including final approval to begin trading on Neo Exchange Inc. (“NEO Exchange”), completion of phase 2 of the step acquisition of Hardwick Climate Business Limited (“HCBL”) and the execution of a carbon reduction project agreement.

“These three milestones represent an important part of Base Carbon’s evolution. We look forward to advancing our carbon-focused business plan as a public company. said Michael Costa, CEO.

NEO Exchange List

Base Carbon has received final approval to list on the NEO Exchange and will begin trading on March 3, 2022, under the symbol “BCBN”. The Company has filed a registration statement in accordance with the policies of the NEO Exchange available under Base Carbon’s SEDAR profile at www.sedar.com.

Completion of phase 2 of the acquisition of HCBL

On March 1, 2022, Base Carbon acquired an additional 30% of HCBL, resulting in a total stake of 49.9% in a planned progressive acquisition, as set out in the terms of an agreement of investment between, among others, HCBL and Base Carbon. HCBL’s team of carbon, environmental markets and energy experts is, together with Base Carbon, engaged in sourcing and developing large-scale carbon reduction projects from its pipeline of over 50 potential carbon projects. carbon reduction in various geographies. Base Carbon’s relationship with HCBL is further described in the Company’s registration statement available at www.sedar.com.

Initial carbon reduction project

Base Carbon has entered into a project agreement with the DelAgua Group (“DelAgua”) and will contribute $8.75 million to finance the manufacture, distribution and monitoring of approximately 250,000 fuel-efficient cookstoves in rural areas of Rwanda as part of an extension of the registered credit project DelAgua’s existing carbon. For more information, see the company’s registration statement available at www.sedar.com.

About Core Carbon

Base Carbon’s mission is to provide capital, development expertise and operational management resources to projects involved primarily in voluntary carbon markets and the broader ESG economy. Base Carbon seeks to be the preferred partner for carbon projects by providing capital and development resources to carbon projects globally and, where appropriate, will strive to utilize technologies within the carbon industry evolving to improve efficiency, trade credibility and trade transparency. The Base Carbon management team is made up of the following members:

• Michael Costa — CEO, Director and Chairman of the Board
• Wes Fulford – Chief Financial Officer
• Philip Hardwick — chief operating officer
• Andrew Fedak — Chief Strategy Officer and Director
• Ryan Hornby — General Counsel and Corporate Secretary
• Bruce Tozer—director
• Margot Naudie — Director
• Catherine Flax — Director
• Maryam Ayati — Director

For more information, please visit www.basecarbon.com.

Contact with Investor Relations:
Meghna Nair
Manager, Investor Relations
Tel: +1 647 264 5305
E-mail: [email protected]

Wes Fulford, Chief Financial Officer, and Ryan Hornby, Chief Legal Officer, are responsible for this press release.

The NEO Bourse has in no way passed on the merits of the Company or the listing of the shares and has neither approved nor disapproved of the contents of this press release.

Cautions Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable securities laws regarding the listing and trading of shares on the NEO Exchange, the direction of Base Carbon’s business and the entering into of the phase 2 with HCBL. These forward-looking statements can be identified by words such as “expects”, “anticipates”, “intends”, “intends”, “believes”, “projects”, “plans” and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Statements regarding, among other things, the planned listing and trading on the NEO Exchange, Base Carbon’s strategic plans and details of entering into the Phase 2 agreement with HCBL are all forward-looking information. These statements should not be construed as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those implied by such statements. Although these statements are based on management’s reasonable assumptions, there can be no assurance that the listing and trading of the shares of Base Carbon will be carried out under the conditions and within the time periods described above. Base Carbon assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances or actual results, except as required by applicable law. When available, readers are encouraged to refer to the registration statement for information about risks and other factors that could affect Base Carbon’s business objectives and strategic plans.