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VANCOUVER, BC, March 04, 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 that it has closed the third and final tranche of its non-brokered private placement that was initially announced on December 20, 2024, and has issued an additional 11,250,000 shares at a price of $0.015 per share, for gross proceeds of $168,750. This brings the total shares issued in the non-brokered private placement to 28,250,000, with total gross proceeds of $423,750.
A portion of the Private Placement constitutes a “related party transaction” within the meaning of Exchange Policy 5.9 and Multilateral Instrument 61‑101 ‑Protection of Minority Security Holders in Special Transactions (“MI 61‑101”) adopted in the Policy. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61‑101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61‑101 in respect of related party participation in the Private Placement. Aggregate number of units subscribed by related parties is 17,000,000 Units.
The Company plans to utilize allocate the offering proceeds for continued investment into operations for the Company’s flagship forest carbon restoration project in Sierra Leone and in order to meet investment requirements associated with the final milestone payment under the previously announced pre-purchase agreement (April, 2023).
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Carbon Done Right
Carbon Done Right is an owner and operator of nature-based carbon assets that serves the growing demand for carbon credits from companies seeking to meet their Net Zero goals. The Company achieves this by investing in the exploration, restoration and management of terrestrial and marine systems that can either be protected to enhance the sequestration of greenhouse gases or restored from a degraded status to fully productive ecosystems. The Company’s dedication to environmental stewardship and its robust pipeline of carbon credit projects makes it a trusted partner to the largest buyers of carbon credits in the world, in the fight against climate change. Carbon Done Right deploys capital at risk under various arrangements (including cooperation, assignment, and production sharing agreements) with government engagement in various suitable jurisdictions around the world including Sierra Leone, Yucatan, Guyana and Suriname.