TORONTO, May 13, 2024 (GLOBE NEWSWIRE) -- Carbon Streaming Corporation (Cboe CA: NETZ) (OTCQB: OFSTF) (FSE: M2Q) ("Carbon Streaming" or the "Company") today announced that it is aware of certain public allegations made on May 6, 2024 by Nickel 28 Capital Corp. ("Nickel 28") concerning its termination of the employment of certain of the Company's executives. The board of directors of Carbon Streaming (the "Board") takes the claims made publicly about its executives seriously and, as a result, the Board has formed a special independent committee of the Board (the "Independent Committee") to conduct an independent review of the allegations, and to confirm compliance with the Company's stringent corporate governance policies and procedures, and applicable laws.
Each of the individuals concerned have informed the Board that they deny the allegations made by Nickel 28, and have provided assurances to the Board concerning their conduct and compliance with the Company's corporate policies and procedures, and applicable laws.
The Independent Committee has not set a completion date for its review process and the Company will comment further on the review when additional disclosure is appropriate or required.
About Carbon Streaming
Carbon Streamingaims to accelerate a net-zero future. We pioneered the use of streaming transactions, a proven and flexible funding model, to scale high-integrity carbon credit projects to advance global climate action and additional United Nations Sustainable Development Goals. This approach aligns our strategic interests with those of project partners to create long-term relationships built on a shared commitment to sustainability and accountability and positions us as a trusted source for buyers seeking high-quality carbon credits.
The Company's focus is on projects that have a positive impact on the environment, local communities, and biodiversity, in addition to their carbon reduction or removal potential. The Company has carbon credit streams and royalties related to over 20 projects around the world, including high-integrity removal, reduction and avoidance projects from nature-based, agricultural, engineered and community-based methodologies.
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ON BEHALF OF THE COMPANY:
Justin Cochrane, President & Chief Executive Officer
Tel: 647.846.7765
info@carbonstreaming.com
www.carbonstreaming.com
Investor Relations
investors@carbonstreaming.com
Media
media@carbonstreaming.com
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information.
Any forward-looking information speaks only as of the date of this news release. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
