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Big Tree Closes Transaction for Sale of Biodiversity Business Plan to NANAVERSE Inc.
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Big Tree Closes Transaction for Sale of Biodiversity Business Plan to NANAVERSE Inc.
TORONTO, ON / ACCESS Newswire / March 25, 2025 / Big Tree Carbon Inc. (the "Company" or "Big Tree") (TSXV:BIGT) is pleased to announce that, further to its press release dated February 24, 2025, the Company has closed (the "Closing") the sale of its biodiversity business plan pursuant to the Letter Agreement (the "Letter Agreement") with NANAVERSE Inc. (formerly known as 1001089934 Ontario Inc.) (the "Purchaser"). Big Tree assigned and transferred to the Purchaser, the NANAVERSE platform and all associated developments (the "Purchased Assets" as set out below) (the "Transaction") (see the Press Releases issued by the Company on March 26, 2024 and September 24, 2024).
Pursuant to the Letter Agreement Big Tree transferred the following Purchased Assets to the Purchaser:
a business plan developed by Big Tree regarding the creation of the NANAVERSE platform, the acquisition and disclosure relating to Biodiversity Projects on the NANAVERSE platform and the steps necessary to make the NANAVERSE platform operational (collectively, the "Biodiversity Business Plan");
the software and web development contract;
the concept of the NANAVERSE platform and the development of the NANAVERSE platform to the date of Closing; and
government and all other contacts made by Big Tree in respect of the Biodiversity Business Plan and all other trade secrets, know-how and intellectual property associated with the Biodiversity Business Plan, that has been created by Big Tree,
and as consideration, Big Tree has received a $1,000,000 Promissory Note from the Purchaser; one (1) Series 1 Preferred Share of the Purchaser entitling Big Tree to 16% of the proceeds received by the Purchaser in respect of each biodiversity project managed through the NANAVERSE platform at the end of the 20 year term of each project; and a contractual royalty entitling Big Tree to 2% of proceeds received annually by the Purchaser in respect of each biodiversity project managed through the NANAVERSE platform.
In accordance with the terms of the Letter Agreement, Ian Brodie-Brown has resigned as Director of Business Development and as a member of the Board of Directors of Big Tree, and has become the Chief Executive Officer of NANAVERSE Inc.
The Purchaser is seeking financing for the NANAVERSE Project. Once the Purchaser has raised a minimum of $4 million, the $1,000,000 Promissory Note owing to Big Tree will be paid.
Once funded, the Purchaser will continue with the development of the NANAVERSE platform and the biodiversity projects to be referred to as the NANAVERSE Project. The NANAVERSE Project is a new construct in capitalism that halts the pressure on Nature by putting an economic value on its remaining unspoiled Biodiversity. This project implements a balance between economics and the Earth's natural engineering.
The NANAVERSE Project will offer the general public, finance, corporate, government and social organizations the opportunity to directly support the value of Nature through 20-year projects protecting biodiversity assets and participate in the furtherance of our responsibility to preserve the natural habitat of all living species for our own benefit, and our place within Nature. Software and web development is being provided by a recognized team of tech industry designers.
ABOUT BIG TREE CARBON INC.
Big Tree Carbon Inc. is an indigenous-led publicly-traded natural asset resource company based in Ontario, Canada.
FOR FURTHER INFORMATION PLEASE CONTACT:
Big Tree Carbon Inc.
Christopher Angeconeb
President and C.E.O.
(807) 737-5353
[email protected]
Forward-Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Big Tree undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Big Tree Carbon Inc.
View the original press release on ACCESS Newswire
A.Landry--SMC
