Big Tree Commences Ogoki Crown Forest Carbon Assessment
Suite 3600, 22 Adelaide Street West, Toronto, Ontario Canada M5H 4E3 · Tel: (807) 737-5353 · Fax (416) 865-6636
Big Tree Commences Ogoki Crown Forest Carbon Assessment
NEWS RELEASE FOR IMMEDIATE RELEASE
JUNE 6, 2023 TSXV Symbol: BIGT
Toronto, Ontario, June 6, 2023 – Big Tree Carbon Inc. (the “Company” or “Big Tree ”)
(TSXV:BIGT) wishes to advise that the Company has retained the professional services of R&B
Cormier Inc. to conduct and deliver a forest carbon sequestration assessment of the Ogoki Forest
management unit in Ontario, Canada.
Big Tree has partnered with Agoke Development LP (“ADLP”) to bring upwards of 974,000
hectares of potential carbon offsetting to market in a larger 1,028,496 hectare forest (the “Ogoki
Forest”). Agoke Development Corp. (“ADC”) is the general partner of the limited partnership
also comprising Aroland First Nation, Eabametoong First Nation, and Marten Falls First Nation
within whose traditional territories the Ogoki Forest is located. Pursuant to the terms of the
Emissions Reduction Benefits Management Agreement (“ERBMA”), Big Tree will assist ADLP
in designing and financing the project. For further information, please reference Company press
releases dated November 8, 2021 and March 1, 2022.
R&B Cormier Inc. will prepare and deliver an assessment of carbon sequestration potential of
the Ogoki Forest management unit for purposes of generating carbon offsets in both compliance
and voluntary market scenarios. The assessment will identify forest stands best suited to
generation of carbon offsets, deliver project development estimations of costs for registering
offsets in both compliance and voluntary market scenarios, and deliver project operation costs
and audit/verification costs on an annual basis. The Assessment Report baseline conditions will
include current conditions within the Ogoki Forest, including planned harvest blocks and fibre
commitments during the 2023-28 plan period.
This Assessment Report, anticipated for completion by mid-August 2023, will be used by the
Company in partnership with the Agoke Development LP to identify diversified economic
opportunities for ADLP, ADC, and their shareholder First Nations within the Ogoki Forest
Crown management unit, including the production and sale of carbon offsets.
The Company also wishes to advise that, further to its press release of April 21, 2023, it will not
be proceeding with the balance of the brokered private placement (the “Offering”). The Offering
was led on a best-efforts basis by IBK Capital and a total of $300,000 was raised.
ABOUT BIG TREE CARBON INC.
Big Tree Carbon Inc. is an indigenous led publicly-traded natural asset development company
based in Ontario, Canada. The Company maintains several legacy mineral exploration properties
in Northwestern Ontario as active exploration holdings, including the Ranger Lake, Richardson
Lake, and Bridget Lake properties. The Company is currently developing two First Nations
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Suite 3600, 22 Adelaide Street West, Toronto, Ontario Canada M5H 4E3 · Tel: (807) 737-5353 · Fax (416) 865-6636
forest carbon offset project development partnerships for the Lac Seul First Nation “Lac Seul
Community Forest Project” and the Ogoki Forest. Subsidiary corporation Wiigwaasaatig Energy
Inc. is a contributor to the Company’s sustainable forest optimization approach, focusing on
renewable electrical generation and biofuel processing in partnership with proximal indigenous
communities.
ABOUT R&B CORMIER INC.
R&B Cormier Inc. is a Natural Resource Contracting and Consulting firm based in Sault Ste.
Marie, Ontario, Canada. The Contracting division supplies satellite, radar and airborne imagery,
operational field services, and three dimensional land mapping. The Consulting division
specializes in wood supply and biomass analysis, including timber and non-timber product
research. (See www.rbcormier.com)
ABOUT IBK CAPITAL CORP.
IBK Capital is an independent and privately owned investment banking firm which offers a full
range of financial advisory services. Such services include private placements of equity and
debt, going public by way of reverse take-over, merger, acquisition and divestiture advisory
services, valuations, fairness opinions and take-over defence planning. The Firm’s corporate
objective is to provide the highest quality independent financial advisory services to its clients.
FOR FURTHER INFORMATION PLEASE CONTACT:
Big Tree Carbon Inc.
Christopher Angeconeb Ian Brodie-Brown
President and C.E.O. Director of Business Development
[email protected] [email protected]
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.