Carbon Streaming Chief Executive Officer Marin Katusa stated: "During the first quarter of 2026, Carbon Streaming continued to strengthen its financial position and maximize value from its existing assets. During the quarter, we achieved positive operating cash flow. The Company continues to advance the Community Carbon buyout, which, subject to completion, is expected to deliver an additional $5.9 million in cash proceeds over the next 12 months. The corporate priority continues to be to maximize value from our existing assets while exploring all strategic options to enhance shareholder value which includes acquisitions, divestments, corporate transactions, and strategic partnerships.
In line with this commitment to shareholders, the Company continues to pursue its statement of claim against certain former executives, board members, consultants, and associated entities to hold the defendants accountable for actions that have caused financial harm to the Company, as outlined in the lawsuit. While certain defendants have filed counterclaims, we believe these to be without merit and have filed a defense to these counterclaims to vigorously defend our position. Looking ahead, we remain focused on protecting all our Stream investments, preserving our rights, and pursuing opportunities that can unlock long-term value for shareholders."
Quarterly Highlights
Ended the quarter with $37.5 million in cash and no corporate debt. The Company continues to earn interest income on its cash.
Achieved positive operating cash flow for the quarter, primarily driven by settlements from carbon credit streaming and royalty agreements and ongoing cost reduction initiatives.
Entered into an agreement to sell the Community Carbon Stream and all related carbon credit inventory for a total consideration of $6.0 million, subject to closing, with $5.0 million payable by the second quarter of 2026 and the remaining balance payable through 2026 and 2027. Completion of the transaction is subject to customary conditions.
In March 2026, invested $1.4 million in a mineral exploration company that subsequently completed a reverse merger transaction, resulting in the creation of Mackay Gold & Silver Corp. ("Mackay"), which commenced trading on the TSX Venture Exchange on April 24, 2026. As a result, the Company received one million common shares of Mackay.
The Company continues to maintain significantly reduced ongoing operating expenses in 2026 when compared to prior periods. The number of employees receiving full-time salaries was three as at March 31, 2026 (down from 24 at the start of 2024). The Chief Executive Officer does not receive a salary, the Chief Financial Officer receives a part-time salary, and the Board continues to forgo remuneration of any kind.
Recognized a net gain on revaluation of carbon credit streaming and royalty agreements of $0.4 million (net gain on revaluation of $49 thousand for Q1 2025).
Generated $0.5 million in cash settlements from carbon credit streaming and royalty agreements (settlements of $2 thousand in Q1 2025).
Operating loss of $0.6 million (operating loss of $1.4 million in Q1 2025).
Recognized net income of $1.4 million (net loss of $0.8 million in Q1 2025).
Financial Highlights Summary
Three months endedMarch 31, 2026
Three months endedMarch 31, 2025
Carbon credit streaming and royalty agreements
Revaluation of carbon credit streaming and royalty agreements
$
369
$
49
Settlements from carbon credit streaming and royalty agreements1
516
2
Other financial highlights
Other operating expenses
985
1,401
Operating loss
(616
)
(1,351
)
Net income (loss)
1,415
