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, Canada – February 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.
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.
“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.
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:
Ranjeet Sundher, Interim CEO
For more information, please contact:
Ranjeet Sundher, Interim CEO
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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.
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SOURCE: DEEPMARKIT CORP.