Carbon Streaming settles Rimba Raya, MarVivo disputes

Mr. Marin Katusa reports CARBON STREAMING ANNOUNCES SETTLEMENT AGREEMENTS RELATED TO RIMBA RAYA AND MARVIVO PROJECTS Carbon Streaming Corp. has entered into two settlement agreements resolving disputes related to the Rimba Raya biodiversity reserve project and the MarVivo Blue Carbon conservation project. Rimba Raya project settlement Carbon Streaming has reached a settlement with Infinite-Earth Ltd. (IE), PT Infinite Earth Nusantara (PT IE), certain of IE's principals and related entities to resolve their dispute related to the Rimba Raya project and the company's allegations of breach of the purchase and sale agreement between the company and Infinite-Earth dated July 30, 2021, as amended on Feb. 28, 2023, the strategic alliance agreement between the company and the shareholders of Infinite-Earth dated July 30, 2021, as amended on Nov. 17, 2021 (the SAA), and related agreements. Key terms of the settlement include: Payment of $650,000 (U.S.) by the IE parties to Carbon Streaming. The IE parties will surrender for cancellation, 4,539,180 common shares in the capital of Carbon Streaming issued in connection with the SAA, to Carbon Streaming. These shares were previously issued to certain of the IE parties. Termination of all existing contracts and legal relationships between Carbon Streaming and the IE parties. Resolution of disputes between Carbon Streaming and the IE parties without any admission of liability including: Termination of an arbitration proceeding between Carbon Streaming and IE and PT IE, in accordance with the purchase and sale agreement between Carbon Streaming and the operators of the Rimba Raya project dated July 30, 2021, as amended on Feb. 28, 2023. Termination of an arbitration proceeding between Carbon Streaming and IE and certain of IE's principals and related entities in accordance with a strategic alliance agreement between Carbon Streaming and the shareholders of IE dated July 30, 2021, as amended on Nov. 17, 2021. Dismissal of an Ontario court proceeding involving a claim and counterclaim between Carbon Streaming and certain of IE's principals and related entities. The parties have agreed to a mutual release. The terms of the settlement agreement are expected to be implemented within 10 days. Carbon Streaming continues to pursue its damages related to the Rimba Raya project against Justin Cochrane in a court proceeding filed April 14, 2025. For additional information about the notice of arbitration to IE and PT IE, the operators of the Rimba Raya project in accordance with the Rimba Raya PSA; the notice of arbitration to the shareholders of IE in accordance with the SAA; and the notice of action in the Ontario Superior Court of Justice seeking declaratory relief against the principals of IE and their related entities, see the company's press release dated Oct. 17, 2024. Marin Katusa, chief executive officer of Carbon Streaming, stated: "The company, with its legal counsel, carefully assessed the status of the proceedings, the strengths and weaknesses of the company's case, including the inability to assess documents from former directors and officers in aid of the proceedings, and the ultimate prospect for recovery and determined that this settlement was in the company's best interest. The company continues to vigorously pursue the defendants, in the April 14, 2025, statement of claim for the damages caused to the company. Given these circumstances, receiving $650,000 (U.S.) and the return of 4,539,180 common shares of Carbon Streaming back to the company for cancellation was the most prudent decision. Following the return and cancellation of the 4,539,180 common shares received from the IE parties the company will have 48,332,053 common shares issued and outstanding." For additional details regarding the lawsuit in the Ontario Superior Court of Justice against Justin Cochrane, Conor Kearns, Anthony Milewski, Michael Beck, Maurice Swan, Andrew Scott Tester, Jeanne Usonis, The Oregon Group LLC, Regent Advisors LLC, Black Vulcan Resources LLC, Carbon Advisors LLC and Angstrom Capital Ltd. refer to the company's press release dated April 14, 2025. MarVivo project settlement Carbon Streaming has also reached a settlement with Fundacion MarVivo Mexico A.C. and MarVivo in connection with the MarVivo project. Key terms of the settlement include: Carbon Streaming accepts the MarVivo parties' abandonment of the MarVivo project, effective Sept. 20, 2024. Carbon Streaming agrees that MarVivo may be wound up or dissolved. Carbon Streaming maintains seven-year rights in the MarVivo project if a MarVivo-affiliated party reacquires rights to the MarVivo project. The parties have agreed to a mutual release. About Carbon Streaming Corp. Carbon Streaming's focus is on projects that generate high-quality carbon credits and have a positive impact on the environment, local communities and biodiversity, in addition to their carbon reduction or removal potential. We seek Safe Harbor.