Base Carbon Inc. (NEOE:BCBN) entered into an agreement to acquire a minority stake in Base Carbon Capital Partners Corp. from Hardwick Climate Business Ltd. for $3 million on April 27, 2023. Pursuant to the terms of the Restructuring Agreement, Base Carbon will purchase HCBL’s full equity interest in BCCPC for an aggregate purchase price of $2,996,000. The purchase price is comprised of (i) a cash payment of $1,600,000 and (ii) the delivery of a promissory note to HCBL in the amount of $1,396,000. Base Carbon has agreed to reduce its equity ownership in HCBL by way of a share capital reduction and the cancellation of the Promissory Note. The HCBL Transaction is expected to close on May 9, 2023.

Base Carbon Inc. (NEOE:BCBN) completed the acquisition of a minority stake in Base Carbon Capital Partners Corp. from Hardwick Climate Business Ltd. on May 10, 2023.