Mr. Sunny Trinh reports

DEVVSTREAM AND FOCUS IMPACT ACQUISITION CORP. ANNOUNCE FILING OF REGISTRATION STATEMENT ON FORM S-4 IN CONNECTION WITH PROPOSED BUSINESS COMBINATION

Devvstream Holdings Inc. filed a registration statement on Form S-4 with the United States Securities and Exchange Commission (SEC) on Dec. 4, 2023. The closing of the Business Combination (as defined below), previously announced on September 12, 2023, is expected to result in DevvStream being the first publicly traded carbon streaming company on a major U.S. stock exchange.

The Registration Statement contains a preliminary proxy statement/prospectus in connection with the proposed business combination between DevvStream and Focus Impact (the "Business Combination"). While the Registration Statement has not yet become effective and the information contained therein is subject to change, it provides important information about DevvStream, Focus Impact, and the Business Combination.

Through DevvStream's Carbon Management and Carbon Investment platforms, the Company is focused on the co-development and generation of technology-based carbon offset credits, in partnership with governments and corporations worldwide, across voluntary and compliance markets. These programs leverage a systematic approach to the process of generating high quality technology-based carbon credits by partnering with project owners to either directly invest as a co-developer or execute project design, documentation, and certification efforts and associated costs in exchange for a substantial portion of multi-year carbon credit streams. Typical projects incur ongoing management and administrative costs during the contract term and generate recurring streams of carbon credits. Through a curated, technology-focused approach to the implementation of green technology projects, DevvStream aims to democratize access to carbon markets while helping governments and corporations worldwide meet their sustainability goals. To date, the Company has signed multiple contracts with partners, including Go-Station, Inc., TS-Nano Sealants LLC, and Prosper Technologies & Affiliates, for the generation of carbon credits. In addition, the Company has received contractual orders for the purchase of 250,000 credits over the next 3 years with options for an additional 400,000 credits from a global energy company.

DevvStream's co-development strategy allows the Company to target a portfolio of opportunities that require limited or zero upfront capital investment, enabling high margin revenue streams. DevvStream's management believes that its unique, capital light business model and existing customer relationships which enable immediate monetization of carbon credit streams generated, combined with a commitment to transparency and reliability, enable significant opportunity for sustained long-term growth. According to Research and Markets, the global carbon credit market value was $1.16 trillion in 2022, and is expected to grow to $2.68 trillion by 2028.

The Business Combination is currently expected to close in the second quarter of 2024, subject to the satisfaction of closing conditions under the Business Combination Agreement, dated as of September 12, 2023, by and among Focus Impact, Focus Impact Amalco Sub Ltd. and DevvStream. Upon completion of the Business Combination, the combined company will operate as DevvStream and is expected to be listed on the Nasdaq Stock Market LLC ("Nasdaq") under the ticker "DEVS".

About DevvStream

Founded in 2021, DevvStream is a technology-based sustainability company that advances the development and monetization of environmental assets, with an initial focus on carbon markets. DevvStream works with governments and corporations worldwide to achieve their sustainability goals through the implementation of curated green technology projects that generate renewable energy, improve energy efficiencies, eliminate or reduce emissions, and sequester carbon directly from the air-creating carbon credits in the process.

On September 13, 2023, DevvStream and Focus Impact (Nasdaq: FIAC) announced that they have entered into a definitive business combination agreement for a business combination that would result in the combined company (DevvStream) to be listed on the Nasdaq Stock Market under the ticker symbol "DEVS".

About Focus Impact Acquisition Corp.

Focus Impact Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

We seek Safe Harbor.