Big Tree Restructures Loan with Agoke Development L.P. and Receives First Interest Payments
Suite 3600, 22 Adelaide Street West, Toronto, Ontario Canada M5H 4E3 · Tel: (807) 737-5353 · Fax (416) 865-6636
Big Tree Restructures Loan with Agoke Development L.P. and Receives First Interest
Payments
NEWS RELEASE FOR IMMEDIATE RELEASE
MAY 8, 2024 TSXV Symbol: BIGT
Toronto, Ontario, 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.”
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Suite 3600, 22 Adelaide Street West, Toronto, Ontario Canada M5H 4E3 · Tel: (807) 737-5353 · Fax (416) 865-6636
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 Ian Brodie-Brown
President and C.E.O. Director of Business Development
(807) 737-5353 (416) 844-9969
[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.