CALGARY,
AB, April 25, 2022 /CNW/ - DeepMarkit
Corp., ("DeepMarkit" or the "Company") (TSXV: MKT) (OTC: MKTDF)
(FRA: DEP), a company focused on transitioning the global carbon
offset market to the more accessible digital economy by minting
credits into non-fungible tokens ("NFTs"), is pleased to
pleased to provide an update on its previously announced
(April 14, 2022) forward split of its
common shares ("Common Shares") on the basis of four (4) new
Common Shares for each one (1) Common Share currently outstanding
(the "Share Split"). The Company has selected
May 2, 2022, as its record date,
instead of April 21, 2022, as
previously announced. All shareholders of record on May 2, 2022 will be entitled to receive Common
Shares pursuant to the Share Split.
![DeepMarkit Corp. (TSXV: MKT, OTC: MKTDF, FRA: DEP) (CNW Group/DeepMarkit Corp.) DeepMarkit Corp. (TSXV: MKT, OTC: MKTDF, FRA: DEP) (CNW Group/DeepMarkit Corp.)](https://mma.prnewswire.com/media/1804406/DeepMarkit_Corp__DeepMarkit_Provides_Update_on_4_for_1_Share_Spl.jpg)
DeepMarkit currently has 42,465,707 Common Shares issued and
outstanding, which will be increased to 169,862,828 Common Shares
after the Share Split is completed. The Corporation proposes the
Share Split to increase the liquidity of the Common Shares and, in
turn, make financing terms more attractive.
As per TSX Venture Exchange ("TSXV") policy, the share
split is being conducted on a "push-out" basis and therefore
DeepMarkit's CUSIP number will remain the same. The Common Shares
will trade on a due bill basis from April
29, 2022 to May 4, 2022, being
the effective date for the Share Split, inclusively. A due bill is
an entitlement attached to listed securities undergoing a material
corporate action, such as a share split. In this instance, the
entitlement is to the additional Common Shares issuable as a result
of the share split. Any trades that are executed on the TSXV during
this period will be flagged to ensure purchasers receive the
entitlement to the additional Common Shares issuable as a result of
the share split. The Common Shares will commence trading on a
split-adjusted basis on May 5, 2022,
at which time, the Common Shares will no longer have entitlement to
additional Common Shares. The due bill redemption date will be
May 6, 2022.
Shareholders do not need to take any action with respect to the
share split. Holders of stock options, Common Share purchase
warrants, and broker warrants will be contacted by DeepMarkit to
replace the certificates or agreements representing their
securities, where applicable. The Share Split remains subject to
approval by the TSXV.
ABOUT DEEPMARKIT
DeepMarkit Corp. is a company focused on transitioning the
global carbon offset market to the more accessible digital economy
by minting credits into non-fungible tokens ("NFTs"). 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 in the tokenization
vertical of the blockchain. FCC's primary asset, MintCarbon.io,
currently under development, is a web-based, software-as-a-service
platform that facilitates the minting of carbon credits into NFTs
(based on the ERC-1155 standard) or other secure tokens (based on
the ERC-20 standard). MintCarbon.io is currently undergoing testing
and FCC anticipates an official launch of the platform in the near
future.
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 news release may contain forward-looking
information. Any statements that are contained in this news release
that are not statements of historical fact may be deemed to be
forward-looking statements, including statements related to the
expected timing of the record date, effective date, and the date
that the Company expects the Common Shares will resume trading
following completion of the Share Split. 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.
Various factors can cause the actual results to differ materially
from those in forward-looking statements. The reader is cautioned
not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this press release
are made as of the date of this news 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.