Carbon Done Right Developments Inc. (the "Company" or "Carbon Done Right"), a company that carries on the business of developing validated and verified carbon credits from afforestation and reforestation of degraded land areas and marine ecosystems, announces that its principal regulator, the British Columbia Securities Commission, has granted an extension to the existing management cease trade order granted on April 30, 2024 (the "MCTO") from June 30, 2024 to July 12, 2024. The MCTO was granted due to a delay in the filing of the audited consolidated financial statements for the year ended December 31, 2023, annual management's discussion and analysis for the same period and management certification of annual filings (collectively, the "Filings").
The Company continues to work diligently with its auditors and expects to file the Filings as soon as possible, and in any event no later than July 12, 2024.
The MCTO restricts the Company's Chief Executive Officer and the Chief Financial Officer from trading in the Company's securities but does not affect the ability of other shareholders, including the public, to trade in securities of the Company.
The Company confirms that it will continue to satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reporting in the form of news releases for so long as it remains in default of the above noted filing requirements.
