Calgary, Canada – 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 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.
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:
Ranjeet Sundher, Interim CEO
For more information, please contact:
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.
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.