TORONTO, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Base Carbon Inc. (Cboe CA: BCBN) (OTCQX:BCBNF) with operations through its wholly-owned subsidiary, Base Carbon Capital Partners Corp. ("BCCPC", together, with affiliates, "Base Carbon", or the "Company"), is pleased to announce its second-quarter 2024 consolidated financial results and operational highlights. All financial references are denominated in U.S. dollars, unless otherwise noted. Company Highlights for the Three and Six Months Ended June 30, 2024: Continued generation and sale of carbon credits from the Company's projects: Received payments of approximately $12.5 million during the quarter from carbon credit sales pursuant to the Vietnam project offtake arrangement. Subsequent to quarter-end, received a further payment of approximately $11.2 million from the sale of carbon credits generated from its Vietnam and Rwanda projects. First issuance of 717,558 correspondingly adjusted carbon credits from the Rwanda cookstoves project achieved with each carbon credit labeled with Verra's "Article 6 Authorized" and representing a carrying value of $9.3 million. Continued operational success in India ARR project with over 82% of the planned 6.5 million trees planted to date with full planting continued to be expected within 2024. As of June 30, 2024, the Company had total assets of $127.2 million, including $7.5 million in cash and cash equivalents, and $108.8 million in investments in carbon credit projects. Financial Highlights: (in thousands of United States Dollars) Three months ended Three months ended   June 30, 2024 June 30, 2023 Gains on investments in carbon credit projects $ 10,671   $ 111,102   Total operating expenses   (2,538 )   (2,008 ) Operating income for the period   8,133     109,095   Income tax recovery (expense)   332     (4,824 )