Carbon Streaming Reports Financial Results for the Three and Six Months Ended June 30, 2024

TORONTO, August 12, 2024 (GLOBE NEWSWIRE) — Carbon Streaming Corporation (Cboe CA: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon flow” or the “Company”) today reported its financial results for the three and six months ended June 30, 2024. All figures are in U.S. dollars unless otherwise stated. The Company will host a live webcast and audio call at 10:00 a.m. ET on Tuesday, August 13, 2024.

Christian Milau, Interim CEO of Carbon Streaming, said: “In the second quarter of 2024, Carbon Streaming continued to focus on cash flow optimization and working towards breakeven on an operating cash flow basis, which could be achieved in 2025, subject to carbon market conditions. The recent senior management and board changes, as well as the termination of advisory contracts and certain other costs, are expected to reduce ongoing operating expenses by more than $1 million per year. As we enter the second half of 2024, we remain committed to generating cash flow from credit sales, identifying further cost savings opportunities and optimizing our portfolio to improve economics. We are pleased to have received more than half a million dollars in stream and royalty revenue in the quarter and nearly $1 million year to date. We are optimistic about the increasing carbon credit profile over the next six to 18 months.” And at Rimba Raya we continue to work with local partners to try to find a negotiated solution, as well as to protect our investment and enforce our rights.”