Toronto, Ontario, June 5, 2023 – Big Tree Carbon Inc. (the “Company” or “Big Tree”) (TSXV:BIGT) wishes to advise that the Company has retained the professional services of R&B Cormier Inc. to conduct and deliver a forest carbon sequestration assessment of the Ogoki Forest management unit in Ontario, Canada.
Big Tree has partnered with Agoke Development LP (“ADLP”) to bring upwards of 974,000 hectares of potential carbon offsetting to market in a larger 1,028,496 hectare forest (the “Ogoki Forest”). Agoke Development Corp. (“ADC”) is the general partner of the limited partnership also comprising Aroland First Nation, Eabametoong First Nation, and Marten Falls First Nation within whose traditional territories the Ogoki Forest is located. Pursuant to the terms of the Emissions Reduction Benefits Management Agreement (“ERBMA”), Big Tree will assist ADLP in designing and financing the project. For further information, please reference Company press releases dated September 8, 2021 and March 1, 2022.
R&B Cormier Inc. will prepare and deliver an assessment of carbon sequestration potential of the Ogoki Forest management unit for purposes of generating carbon offsets in both compliance and voluntary market scenarios. The assessment will identify forest stands best suited to generation of carbon offsets, deliver project development estimations of costs for registering offsets in both compliance and voluntary market scenarios, and deliver project operation costs and audit/verification costs on an annual basis. The Assessment Report baseline conditions will include current conditions within the Ogoki Forest, including planned harvest blocks and fibre commitments during the 2023-28 plan period.
This Assessment Report, anticipated for completion by mid-August 2023, will be used by the Company in partnership with the Agoke Development LP to identify diversified economic opportunities for ADLP, ADC, and their shareholder First Nations within the Ogoki Forest Crown management unit, including the production and sale of carbon offsets.
The Company also wishes to advise that, further to its press release of April 21, 2023, it will not be proceeding with the balance of the brokered private placement (the “Offering”). The Offering was led on a best-efforts basis by IBK Capital and a total of $300,000 was raised.
ABOUT BIG TREE CARBON INC.
Big Tree Carbon Inc. is an indigenous led publicly-traded natural asset development company based in Ontario, Canada. The Company maintains several legacy mineral exploration properties in Northwestern Ontario as active exploration holdings, including the Ranger Lake, Richardson Lake, and Bridget Lake properties. The Company is currently developing two First Nations forest carbon offset project development partnerships for the Lac Seul First Nation “Lac Seul Community Forest Project” and the Ogoki Forest. Subsidiary corporation Wiigwaasaatig Energy Inc. is a contributor to the Company’s sustainable forest optimization approach, focusing on renewable electrical generation and biofuel processing in partnership with proximal indigenous communities.
ABOUT R&B CORMIER INC.
R&B Cormier Inc. is a Natural Resource Contracting and Consulting firm based in Sault Ste. Marie, Ontario, Canada. The Contracting division supplies satellite, radar and airborne imagery, operational field services, and three dimensional land mapping. The Consulting division specializes in wood supply and biomass analysis, including timber and non-timber product research. (See www.rbcormier.com)
ABOUT IBK CAPITAL CORP.
IBK Capital is an independent and privately owned investment banking firm which offers a full range of financial advisory services. Such services include private placements of equity and debt, going public by way of reverse take-over, merger, acquisition and divestiture advisory services, valuations, fairness opinions and take-over defence planning. The Firm’s corporate objective is to provide the highest quality independent financial advisory services to its clients.
FOR FURTHER INFORMATION PLEASE CONTACT:
Big Tree Carbon Inc.
Christopher Angeconeb
President and C.E.O
christopherangeconeb@gmail.com
Ian Brodie-Brown
Director of Business Development
bigtree007@icloud.com
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Big Tree undertakes no obligation to update such forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.