TORONTO, August 15, 2023 -- Base Carbon Inc. (NEO: BCBN) (OTCQX: BCBNF) ("Base Carbon", or the "Company"), a financier of emission reduction, removal, and related climate action projects, is pleased to announce the results of its first Annual General Meeting.

A total of 58,856,795 common shares, representing 48.928% of the issued and outstanding common shares of the Company, were represented at the Meeting. Five (5) directors were elected to the Company’s board for the ensuing year. The following is a tabulation of the votes submitted in person and by proxy:

<table>
  <thead>
    <tr>
      <th>Director Nominee</th>
      <th># of Votes in Favour</th>
      <th>% of Votes in Favour</th>
      <th># of Votes Withheld</th>
      <th>% of Votes Withheld</th>
    </tr>
  </thead>
  <tbody>
    <tr>
      <td>Catherine Flax</td>
      <td>53,315,571</td>
      <td>95.329%</td>
      <td>2,612,134</td>
      <td>4.671%</td>
    </tr>
    <tr>
      <td>Margot Naudie</td>
      <td>45,399,995</td>
      <td>80.498%</td>
      <td>10,998,782</td>
      <td>19.502%</td>
    </tr>
    <tr>
      <td>Bruce Tozer</td>
      <td>53,786,388</td>
      <td>95.368%</td>
      <td>2,612,389</td>
      <td>4.632%</td>
    </tr>
    <tr>
      <td>Michael Costa</td>
      <td>54,541,452</td>
      <td>96.707%</td>
      <td>1,857,325</td>
      <td>3.293%</td>
    </tr>
    <tr>
      <td>Andrew Fedak</td>
      <td>54,541,452</td>
      <td>96.707%</td>
      <td>1,857,325</td>
      <td>3.293%</td>
    </tr>
  </tbody>
</table>

Shareholders also voted in favour of appointing KPMG LLP, Chartered Accountants, as auditors of the Company for the ensuing year and authorized the directors to fix their remuneration:
 
<table>
  <thead>
    <tr>
      <th># of Votes in Favour</th>
      <th>% of Votes in Favour</th>
      <th># of Votes Withheld</th>
      <th>% of Votes Withheld</th>
    </tr>
  </thead>
  <tbody>
    <tr>
      <td>57,259,853</td>
      <td>97.287%</td>
      <td>1,596,942</td>
      <td>2.713%</td>
    </tr>
  </tbody>
</table>


For more information refer to the management information circular dated July 7, 2023, available on the Company’s profile at [www.sedarplus.ca](https://www.sedarplus.ca/landingpage/). 

### About Base Carbon

Base Carbon is a financier of projects involved primarily in the global voluntary carbon markets. We endeavor to be the preferred carbon project partner in providing capital and management resources to carbon removal and abatement projects globally and, where appropriate, will utilize technologies within the evolving environmental industries to enhance efficiencies, commercial credibility, and trading transparency. For more information, please visit [www.basecarbon.com](https://basecarbon.com/).

### Media and Investor Inquiries

Base Carbon Inc. <br>
Investor Relations <br>
Tel: +1 647 952 3979 <br>
E-mail: investorrelations@basecarbon.com

Media Inquiries <br>
E-mail: media@basecarbon.com <br>

Michael Costa, Chief Executive Officer, and Ryan Hornby, Chief Legal Officer are responsible for this press release.

### _Cautionary Statement Regarding Forward Looking Information_

_This press release contains “forward-looking information” within the meaning of applicable securities laws with respect of the Company, including but not limited to, statements relating to the focus of Base Carbon’s business. In some cases, but not necessarily in all cases, forward-looking information may be identified by the use of forward-looking terminology such as “expects”, “anticipates”, “intends”, “contemplates”, “believes”, “projects”, “plans” or variations of such words and similar expressions or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events. Statements about, among other things, Base Carbon’s strategic plans are all forward-looking information. These statements should not be read as guarantees of future performance, results, or achievements._

_Although management believes that the anticipated future results, performance or achievements expressed or implied by the forward-looking information are based upon reasonable assumptions and expectations, readers should not place undue reliance on forward-looking information because it involves assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking information._
 
_The forward-looking statements made herein are subject to a variety of risk factors and uncertainties, many of which are beyond the Company’s control, which could cause actual events or results to differ materially and adversely from those reflected in the forward-looking statements. Readers are cautioned that forward-looking statements are not guarantees of future performance. Specific reference is made to the most recent Annual Information Form on file with the Canadian provincial securities regulatory authorities (and available on www.sedarplus.ca) for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release._
 
_Should one or more of the risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual events or results may vary materially and adversely from those described in the forward-looking information. The forward-looking information contained in this press release is provided as of the date of this press release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law._


View Original Content: [https://www.globenewswire.com/news-release/2023/08/15/2725875/0/en/Base-Carbon-Announces-AGM-Results.html](https://www.globenewswire.com/news-release/2023/08/15/2725875/0/en/Base-Carbon-Announces-AGM-Results.html)

large_VNV Logo Enlarged for Footer Nav.png

medium_VNV Logo Enlarged for Footer Nav.png

small_VNV Logo Enlarged for Footer Nav.png

thumbnail_VNV Logo Enlarged for Footer Nav.png

VNV Logo Enlarged for Footer Nav.png

large_IBI-MemberLogo-White-Solid.png

medium_IBI-MemberLogo-White-Solid.png

small_IBI-MemberLogo-White-Solid.png

thumbnail_IBI-MemberLogo-White-Solid.png

IBI-MemberLogo-White-Solid.png

large_ieta.png

medium_ieta.png

small_ieta.png

thumbnail_ieta.png

ieta.png

thumbnail_puro.png

puro.png

thumbnail_sm_logo_grey.png

sm_logo_grey.png

Base Carbon Announces AGM Results

Published on August 15, 2023

Base Carbon Announces AGM Results