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Carbon Streaming Corp. reports developments tied to its carbon credit streaming and royalty portfolio, including financial results, portfolio monetization, project amendments and legal matters involving stream investments. Company updates have addressed carbon credit projects such as the Azuero Reforestation Stream, Community Carbon Stream, Magdalena Bay Blue Carbon Stream and Rimba Raya Biodiversity Reserve Project.
Recurring news also includes settlement implementation, share cancellations, early-warning ownership reports covering common shares and warrants, and governance support for significant litigation. The company frames its portfolio around carbon reduction or removal projects with environmental, community and biodiversity attributes.
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Carbon Streaming Corporation (OTCQB: OFSTF) reported significant progress in the Rimba Raya Project under new Indonesian carbon regulations. The company achieved a net income of $4.8 million for the three months ended December 31, 2022, despite an adjusted net loss of $5.7 million. Revenue from carbon credit sales was $1.1 million, with an average price of $8.61 per credit. The firm aims to receive carbon credits or royalties from 10+ projects in 2023, driven by a diversified portfolio and increasing demand in voluntary carbon markets, bolstered by regulatory developments. Cash reserves stood at $70.3 million, with no corporate debt.