Big Tree Settles Promissory Note with ADLP for $591,900
Big Tree Carbon Inc. has accepted a payment of $591,900 in settlement of a promissory note totaling $772,503 related to Agoke Development LP. The settlement includes the forgiveness of approximately $127,503 in accrued interest to facilitate repayment, aligning with the company's commitment to sustainable economic development for Indigenous communities.
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On May 12, 2026, Big Tree Carbon Inc. received $591,900 in full settlement of a $772,503 promissory note related to Agoke Development LP (ADLP). The settlement includes the forgiveness of $127,503 in interest owed by ADLP and its First Nations partners: Aroland First Nation, Eabametoong First Nation, and Marten Falls First Nation.
The funds were initially advanced to support a forest carbon offset project under an Emission Reduction Benefit Management Agreement signed in November 2021. Despite favorable assessments on carbon sequestration potential in the Ogoki Forest, the project did not progress to funding, risking a change of business status for Big Tree. This settlement reflects the company's strategy to support Indigenous economic opportunities as outlined in the Truth and Reconciliation Commission of Canada.
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