(TSXV: MKT, OTC: MKTDF)
First Carbon Operates in the Tokenization
Vertical of the Blockchain
and its Flagship Asset, MintCarbon.io, is a Platform Developed
to
Facilitate the Minting of Carbon Credits into NFTs
CALGARY,
AB, Feb. 23, 2022 /CNW/ - DeepMarkit Corp.,
("DeepMarkit" or the "Company") (TSXV: MKT) (OTC: MKTDF), a
technology company focused on creating new tools and technologies
to aid businesses in sales development and increasing
profitability, is pleased to announce that, subsequent to having
its previously announced acquisition of First Carbon Corp. ("FCC")
approved by the TSX Venture Exchange ("TSXV"), its resumption of
trading on the TSXV today offers investors the unique opportunity
to participate in the modernization of the global carbon credit
market through blockchain-based solutions. In addition to
DeepMarkit's acquisition of FCC, it also recently completed an
up-sized, non-brokered, private placement for total gross proceeds
of $2,167,500, as previously
announced, which is a complementary milestone for the Company.
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FCC is a next generation technology platform company focused on
democratizing tokenized access to carbon credits. Its flagship
platform, MintCarbon.io, is being developed to offer carbon offset
holders an on-ramp to the blockchain by enabling the minting of a
carbon credit into a decentralized non-fungible token
("NFT") via the low-emission Polygon network. NFTs minted
via the MintCarbon.io platform are expected to be powered by
Ethereum and tradeable in global decentralized marketplaces based
on the blockchain. Further, all minted tokens are being designed to
be ERC-1155-compliant and originate from verified carbon credits,
the combination of which is expected to provide increased
transparency, liquidity and security to the carbon offset
market.
The goal of MintCarbon.io is to make it easier for large carbon
emitters to participate in the global effort to reduce their
impacts on the environment through the purchase of tokenized carbon
offsets. The benefits of the platform are expected to include:
- Access to permissionless trading on decentralized trading
platforms (such as OpenSea.io) that operate on a 24/7/365
basis;
- Secure and easy access for investors to an emerging asset
class;
- Programmable functionality through smart contracts that enable
new types of capital formation and trading; and
- A reliable framework designed to increase the flow of capital
into carbon reduction initiatives, thereby helping underfunded
companies and their environmentally beneficial projects.
The Company has enhanced its product management and business
development competencies that is expected to result in an expedited
timeline for the commercialization of MintCarbon.io. The platform
is currently undergoing testing and FCC anticipates an official
launch of MintCarbon.io during the first quarter of 2022.
Additionally, First Carbon has launched a previously announced
MintCarbon.io channel on the Discord social media platform
("Discord"). With the launch of the Discord channel, carbon
offset holders, investors and other parties interested in the
community will be able to communicate directly with MintCarbon.io
representatives. The fostering of communication between FCC and
carbon offset holders, corporate carbon credit purchasers, the NFT
community, government agencies and other stakeholders is a prime
objective of the Company.
Management Commentary
"The DeepMarkit team is excited to bring FCC into the fold, to
develop its innovative MintCarbon.io platform, and to resume
trading on the TSX Venture Exchange. We are grateful for the
approval of our acquisition of FCC in parallel with the closing of
our oversubscribed non-brokered private placement. DeepMarkit is
well financed to kick-off this stage in its evolution and FCC is
strongly positioned to offer democratized access, minting, tracking
and trading of carbon credits in the form of tokens or non-fungible
tokens on the blockchain to a global marketplace," said
Ranjeet Sundher, Interim CEO of
DeepMarkit.
ABOUT DEEPMARKIT
DeepMarkit Corp. is a technology company focused on creating new
tools and technologies to aid businesses in sales development and
increasing profitability. Its common shares are listed on the TSX
Venture Exchange under the "MKT" stock symbol. DeepMarkit's wholly
owned subsidiary, First Carbon Corp. ("FCC"), is a software
infrastructure company operating in the tokenization vertical of
the blockchain. FCC's primary asset, MintCarbon.io, is a web-based,
software-as-a-service platform that facilitates the minting of
carbon credits into non-fungible tokens. MintCarbon.io is currently
undergoing testing and FCC anticipates an official launch of the
platform in 2022.
On behalf of:
DEEPMARKIT CORP.
"Ranjeet Sundher"
Ranjeet Sundher, Interim CEO
Neither the 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 news release.
CAUTIONARY STATEMENT
Statements in this press release may contain forward-looking
information. Any statements that are contained in this press
release that are not statements of historical fact may be deemed to
be forward-looking statements. The reader is cautioned that
assumptions used in the preparation of any forward-looking
information may prove to be incorrect. Events or circumstances may
cause actual results to differ materially from those predicted, as
a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of DeepMarkit.
Factors that could cause the actual results to differ materially
from those in forward-looking statements include, but are not
limited to, failure to obtain final regulatory approval for
Acquisition, inability to complete the Private Placement, or
failure to complete the Acquisition on the terms proposed, or at
all. The reader is cautioned not to place undue reliance on any
forward-looking information. Completion of the Acquisition is
subject to a number of conditions, including but not limited to,
execution of the Definitive Agreement and acceptance by the
Exchange.
The forward-looking statements contained in this press release
are made as of the date of this press release and DeepMarkit does
not undertake any obligation to update publicly or to revise any of
the included forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
securities law.
SOURCE DeepMarkit Corp.