CARBON DONE RIGHT DEVELOPMENTS INC. ANNOUNCES DELAY IN FILING OF ANNUAL FINANCIAL STATEMENTS AND APPLICATION FOR MANAGEMENT CEASE TRADE ORDER

Globe and Mail

4 days ago

VANCOUVER, BC, July 15, 2025 (GLOBE NEWSWIRE) -- Carbon Done Right Developments Inc. ("Carbon Done Right" or the "Company") (TSXV: KLX) (FSE: Q1C), a leading provider of high-quality carbon credits sourced exclusively from afforestation and reforestation projects developed and owned by the Company, announces that it will not meet the filing date for filing of the following continuous disclosure documents (collectively, the ' Documents '):
the Company's Annual Audited Financial Statements for the year ended March 31, 2025, as required by Section 4.2 of National Instrument 51-102 - Continuous Disclosure Obligations (' NI 51-102 ');
the Company's Management Discussion & Analysis for the year ended March 31, 2025, as required by Section 5.1(2) of NI 51-102; and
certificates of the Chief Executive Officer and Chief Financial Officer of the Company relating to such audited annual financial statements as required by National Instrument 52-109 – Certification of Disclosure in Issuers' Annual and Interim Filings.
The Company anticipates a delay in the filing of the Documents due to its recent change of auditor and the need to address certain transitional matters arising from that change. These matters have temporarily affected the coordination and progress of the audit process. The Company is actively working to resolve the outstanding issues and is allocating internal resources to support the completion of the audit. The Company remains committed to finalizing the Documents as soon as practicable and ensuring continued compliance with its disclosure obligations. The Company expects to file the Documents by September 30, 2025.
Accordingly, the Company has applied to the British Columbia Securities Commission for a Management Cease Trade Order (' MCTO ') that will prohibit the management of the Company from trading in the securities of the Company until such time as the Documents are filed. There is no guarantee that a MCTO will be granted. If the MCTO is granted, the MCTO will prohibit the chief executive officer, the chief financial officer, and possibly the directors, other officers and other insiders of the Company from trading in securities of the Company for so long as the Documents are not filed. The issuance of such cease trade order does not generally affect the ability of persons who are not directors, officers or other insiders of the Company to trade in the Company's securities.
No decision has yet been made by the British Columbia Securities Commission on this application. The British Columbia Securities Commission may grant the application and issue the Management Cease Trade Order or it may impose an issuer cease trade order if the Documents are not filed in a timely fashion.
During the period of default and until filing of the Documents, the Company intends to satisfy the provisions of the alternative information guidelines as required by National Policy 12-203 – Management Cease Trade Orders. Until the Company has filed the Documents, members of the Company's management and other insiders are subject to an insider trading black-out policy as per its internal Insider Trading Policy that is consistent with the principles in Section 9 of National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
About Carbon Done Right
Carbon Done Right is an owner and operator of nature-based carbon assets that serves the growing demand for carbon credits from companies seeking to meet their Net Zero goals. The Company achieves this by investing in the exploration, restoration and management of terrestrial and marine systems that can either be protected to enhance the sequestration of greenhouse gases or restored from a degraded status to fully productive ecosystems. The Company's dedication to environmental stewardship and its robust pipeline of carbon credit projects makes it a trusted partner to the largest buyers of carbon credits in the world, in the fight against climate change. Carbon Done Right deploys capital at risk under various arrangements (including cooperation, assignment, and production sharing agreements) with government engagement in various suitable jurisdictions around the world including Sierra Leone, Yucatan, Guyana and Suriname.
ON BEHALF OF THE BOARD OF DIRECTORS
'James Tansey'
James Tansey
Chief Executive Officer
For further information please contact:
Carbon Done Right Developments Inc.
James Tansey, Chief Executive Officer
Email: [e-mail]
http://www.klimatx.com
Cautionary Note Regarding Forward Looking Statements
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements and forward-looking information (collectively ' forward looking statements ') within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as 'may', 'should', 'anticipate', 'will', 'intends' 'expects' and similar expressions which are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the Offering and the ongoing business of the Company. Carbon Done Right cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of Carbon Done Right including expectations and assumptions concerning the Company and the need for additional capital by the Company through financings, and the risk that such funds may not be raised. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Carbon Done Right. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release, and Carbon Done Right does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.