CALGARY,
AB, Oct. 5, 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 carbon
offsets onto the blockchain, is pleased to report the voting
results from its annual general and special meeting of shareholders
held yesterday, October 4, 2022, in
Calgary, Alberta (the
"Meeting"). All nominees, as set forth in the Company's
management information circular dated September 2, 2022 (the "Information
Circular") were re-elected as directors of the Company, each
receiving greater than 99% of affirmative votes.
At the Meeting, shareholders also approved: (1) the appointment
of Crowe MacKay LLP, Chartered Accountants as auditor of the
Company, (2) the adoption of a revised rolling 10% stock option
plan, (3) the adoption of the fixed 10% equity incentive
compensation plan (the "Incentive Plan"), (4) the approval
of Radiance Assets Berhad as a control person of the Company, (5)
the ratification of the grant of an aggregate of 15,800,000
restricted share units ("RSUs"), (6) the repricing of
3,400,000 existing stock options held by Insiders of the Company,
as such term is defined in the policies of the TSX Venture Exchange
(the "Exchange"), and (7) the authorization for the Board to
name change of the Company to First Carbon Inc. or such other name
determined by the Board, each as further described in the
Information Circular.
The Incentive Plan governs the terms of any RSU and deferred
share unit ("DSU") (collectively the "Awards")
granted under the fixed Incentive Plan, to directors, officers,
employees and consultants of the Company and its subsidiary. The
Company has reserved for issuance up to 16,986,282 Common Shares,
being 10% of the issued and outstanding Common Shares of the
Company on the Meeting Date, pursuant to the Incentive
Plan. The purposes of the Incentive Plan are to: (i) provide
the Company with a mechanism to attract, retain and motivate highly
qualified directors, officers, employees and consultants; (ii)
align the interests of eligible participants of the Incentive Plan
with that of other shareholders of the Company generally; and (iii)
enable and encourage participants to participate in the long-term
growth of the Company through the acquisition of Awards and common
shares as long-term investments.
Further to the Company's announcement on September 2, 2022, the Company also announces
that is has amended existing stock options to purchase 14,980,000
common shares of the Company to reduce the exercise price from
$0.2125 to $0.15, including 3,400,000 options held by
Insiders of the Company for which shareholder approval was sought
and obtained at the Meeting in accordance with TSXV policies. The
option amendments remain subject to TSXV approval.
ABOUT DEEPMARKIT
DeepMarkit Corp. is a company focused on democratizing access to
the voluntary carbon offset market by minting offsets into NFTs.
Its common shares are listed on the TSX Venture Exchange under the
"MKT" stock symbol, on the OTC market in the United States under the "MKTDF" symbol and
on the Frankfurt Stock Exchange under the "DEP" symbol. DeepMarkit
Corp. is a software infrastructure company operating in the
tokenization vertical of the blockchain. Its primary asset,
MintCarbon.io, is a web-based platform that facilitates the minting
of carbon offsets into NFTs (based on the ERC-1155 standard) or
other secure tokens (based on the ERC-20 standard).
On behalf of:
DEEPMARKIT CORP.
"Ranjeet Sundher"
Ranjeet Sundher, 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 relating to
obtaining TSXV approval for the amendment of stock options. 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. Additional information regarding risks and
uncertainties of the Company's business are contained under the
heading "Business Risks and Uncertainties" in the Company's
MD&A in respect of the period ended June
30, 2022 and the Company's other public filings which are
available under the Company's profile on SEDAR at www.sedar.com.
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 news
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.
