TORONTO, ON / ACCESSWIRE / May 8, 2024 / Big Tree Carbon Inc. (the "Company" or "Big Tree") (TSXV:BIGT) is pleased to announce that it has restructured the loan with Agoke Development LP ("ADLP"), a business partnership of the Aroland, Eabametoong, and Marten Falls First Nations, and has received the first interest payments. This is a milestone for the emerging Natural Asset Resource Management sector that Big Tree is pioneering, with an effort to respect and benefit financially from the stewardship by the First Nations of Nature within the Natural Resource industry.
On April 30, 2024, Big Tree received the first four months of scheduled interest payments on the restructured loan. Big Tree provided the loan to ADLP to stabilize its ongoing forest management operations in the Ogoki Forest. The payment of interest is the first cash return on this investment made by Big Tree and represents a concrete example of how Big Tree is changing the business environment in Canada. The money sourced from our capital markets has had a genuine influence on the stabilization of Indigenous business development in Northern Ontario.
Together with ADLP, Big Tree seeks to source revenue from changing the forestry practices within the Ogoki Forest and creating a significant carbon sequestration project, while ADLP continues to generate regular revenue from managing its ongoing forest harvest business. Reference is made to the Press Release dated September 27, 2023, announcing the favourable Assessment Report published by R&B Cormier Inc. relating to the generation of carbon credits in the Ogoki Crown Forest. A copy of the report is available on the Company's website at www.bigtreecarbon.ca.
Big Tree is currently engaged in policy discussions with the Ontario Government, specifically the Ministry of Indigenous Affairs strategic policy advisers, to discuss the current forest harvest techniques and the possibility of shared revenue derived through the addition of carbon sequestration management practices in Crown forests. Big Tree anticipates that Provincial support for sequestration projects will represent a significant source of sustainable revenue for the Company, First Nations, and Ontario.
Big Tree President and CEO, Christopher Angeconeb, stated "we are excited to be playing such an important role in the emergence of First Nations in the public markets as the first publicly listed company with an indigenous majority Board of Directors and First Nations President and CEO." He continued "we are at a crucial point in history, in our quest to preserve the remaining untouched natural assets in Northern Ontario for the benefit of humanity in cooperation with the First Nations. Our team members at Big Tree are working tirelessly to fulfill this quest."
At Big Tree our team has developed an innovative biodiversity business plan that utilizes a virtual proxy for the stewardship and maintenance of Nature within the First Nations traditional territories, by creating an economic model that values the regenerative capabilities of the living biosphere. Reference is made to the press release dated March 26, 2024 relating to the Company's Biodiversity Business Development Plan.
ABOUT BIG TREE CARBON INC.
Big Tree Carbon Inc. is an indigenous-led publicly-traded natural asset resource company focused on developing Biodiversity Stewardship projects, based in Ontario, Canada.
FOR FURTHER INFORMATION PLEASE CONTACT:
Big Tree Carbon Inc.
Christopher Angeconeb
President and C.E.O.
(807) 737-5353
christopherangeconeb@gmail.com
Ian Brodie-Brown
Director of Business Development
(416) 844-9969
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.
SOURCE: Big Tree Carbon Inc.
View the original press release on accesswire.com
