TORONTO, ON /ACCESSWIRE / June 6, 2023 / Big Tree Carbon Inc. (the “Pursue” or “Big tree“) BIG would like to announce that the Company has engaged the professional services of R&B Cormier Inc. to conduct and conduct a forest carbon sequestration assessment at the Ogoki Forest Management Unit in Ontario, Canada.
Big Tree has partnered with Agoke Development LP (“ADLP”) to bring to market more than 974,000 hectares of potential carbon offsets in a larger 1,028,496 hectare forest (the “Ogoki Forest”). Agoke Development Corp. (“ADC”) is the general partner of the limited partnership, which also includes the Aroland First Nation, the Eabametoong First Nation and the Marten Falls First Nation in whose traditional lands the Ogoki Forest is located. Under the terms of the Emissions Reduction Benefits Management Agreement (“ERBMA”), Big Tree will assist ADLP in designing and funding the project. For more information, see the Company’s news releases dated November 8, 2021 and March 1, 2022.
R&B Cormier Inc. will prepare and deliver an assessment of the Ogoki Forest Management Unit’s carbon sequestration potential to generate carbon offsets in both compliance and voluntary market scenarios. The assessment will identify forest stands best suited for generating carbon offsets, provide project development estimates of the cost of registering offsets in both compliance scenarios and voluntary market scenarios, and project operating costs and assessment/verification costs on an annual basis determined. The baseline conditions of the assessment report cover the current conditions in the Ogoki Forest, including planned harvest blocks and fiber commitments during the 2023-28 plan period.
This assessment report, expected to be completed by mid-August 2023, will be used by the Company, in conjunction with Agoke Development LP, to identify multiple economic opportunities for ADLP, ADC and their First Nations shareholders within the Ogoki Forest Crown division, including production and the sale of CO2 offsets.
The Company also wishes to advise that, following its press release dated April 21, 2023, it will not proceed with the balance of the brokered private placement (the “Offering”). The offering was managed to the best of my ability by IBK Capital and raised a total of $300,000.
ABOUT BIG TREE CARBON INC.
Big Tree Carbon Inc. is a local owned, publicly traded natural asset development company based in Ontario, Canada. The Company has several historic mineral exploration properties in Northwestern Ontario as active exploration properties including the Ranger Lake, Richardson Lake and Bridget Lake properties. The Company is currently developing two First Nations forest carbon offset development partnerships for the Lac Seul First Nation Lac Seul Community Forest Project and the Ogoki Forest. Subsidiary Wiigwaasaatig Energy Inc. contributes to the company’s sustainable forest optimization approach, focusing on renewable energy generation and biofuel processing in collaboration with nearby 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 provides satellite, radar and airborne imagery, operational field services and three-dimensional mapping. The consulting department specializes in wood supply and biomass analysis, including research on wood and non-wood products. (See www.rbcormier.com)
ABOUT IBK CAPITAL CORP.
IBK Capital is an independent and privately held investment banking firm offering a full range of financial advisory services. These services include private placements of equity and debt, reverse takeover IPOs, merger, acquisition and divestiture advisory services, valuations, fairness opinions and takeover defense planning. The company’s mission is to provide its clients with independent financial advisory services of the highest quality.
FOR MORE INFORMATION PLEASE CONTACT:
Big Tree Carbon Inc.
Christopher Angeconeb
President and CEO
christopherangeconeb@gmail.com
Ian Brodie-Brown
Business Development Director
bigtree007@icloud.com
Forward-Looking Statement:
Some of the statements contained herein may be forward-looking statements that 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 global price of mineral commodities, general market conditions, risks associated with mineral exploration, consequent risks associated with development, construction and mining operations, uncertainty of future profitability and 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 could differ materially from those anticipated in such statements. Big Tree undertakes no obligation to update any such forward-looking statements should circumstances or management’s estimates or opinions change. The reader is cautioned not to place undue reliance on any such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: Big Tree Carbon Inc.
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https://www.accesswire.com/759432/Big-Tree-Commences-Ogoki-Crown-Forest-Carbon-Assessment
www.benzinga.com
https://www.benzinga.com/pressreleases/23/06/ac32734724/big-tree-commences-ogoki-crown-forest-carbon-assessment
