Carbon Done Right Developments Inc. ("Carbon Done Right" or the "Company"), a leading provider of high-quality carbon credits sourced exclusively from afforestation and reforestation projects developed and owned by the Company, is pleased to announce that it has completed the second tranche of its non-brokered private placement that was previously announced on December 20, 2024 and amended on January 8, 2025, and has issued 10,000,000 shares at a price of $0.015 per share, for gross proceeds of $150,000. This brings the total shares issued in the non-brokered private placement so far to 17,000,000, with total gross proceeds received so far of $255,000.
The Company plans to utilize offering proceeds for continued investment into operations and corporate support for the Company’s flagship forest carbon restoration project and in order to meet investment requirements associated with the final milestone payment under the previously announced pre-purchase agreement (April, 2023).
The remainder of the Offering is expected to close during January 2025, subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional approval of the TSX Venture Exchange. The Company may pay finders' fees under the offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The securities issued under the Offering will be subject to a hold period under applicable securities laws in Canada expiring four months and one day from the closing date of the Offering.