Home Meeting notice DeepMarkit Announces Shareholder Meeting Update, Year-End Change and Option Changes

DeepMarkit Announces Shareholder Meeting Update, Year-End Change and Option Changes

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TSXV: MKT OTC: MKTDF FRA: DEP

CALGARY, Alta., September 2, 2022 /CNW/ – DeepMarkit Corp., (Deep Markit or the Company) ( TSXV: MKT) (OTC: MKTDF) (FRA: DEP), a company focused on transitioning the global carbon offset market to a more accessible digital economy by adding carbon offsets to the blockchain, announces that it will hold its next general meeting and Extraordinary Annual (the “Meeting“) of the shareholders of the Company (the “Shareholders“) at the offices of DS Lawyers Canada LLP, Suite 800, 333 – 7th Avenue SW, Calgary, AB T2P 2Z1, at 10:00 a.m. on October 4, 2022.

During the Meeting, Shareholders will be asked in particular to:

  1. Receive and review the Company’s audited consolidated financial statements for the year ended December 31, 2021;
  2. Elect Ranjeet Sundher, Steve VanryJ Garry Clark, Paul McKenzie and James Henning as directors of the Company for the following year;
  3. To appoint the auditors of the Company for the following year and authorize the audit committee of the board of directors of the Company to fix the remuneration of the auditors;
  4. Approve the Company’s stock option plan;
  5. Approve the Company’s equity incentive compensation plan (see the Company’s press release dated August 19, 2022);
  6. Approve that Radiance Assets Berhad become a new “controlling person” (as that term is defined on the TSX Venture Exchange (the “Swap“) Corporate Finance Manual) of the Company;
  7. To approve an ordinary resolution of the disinterested shareholders ratifying the granting of an aggregate of 15,800,000 restricted stock units previously approved by the board of directors of the Company and issued on August 19, 2022 (see the Company’s press release dated August 19, 2022);
  8. Approve an ordinary resolution of disinterested shareholders amending certain options previously granted to insiders of the Company, subject to the policies of the Exchange; and
  9. To pass a special resolution authorizing the change of name of the Company to “First Carbon Inc.” or such other name as the Board of Directors of the Company, in its sole discretion and subject to applicable regulatory approval, deems appropriate.

The Notice of Meeting and Management Proxy and Information Circular for the Meeting should be mailed to all shareholders on September 13, 2022 and will also be available under the Company’s issuer profile on SEDAR at www.sedar.com.

Year-end change

The Company also announces that it has today filed a year-end changeover notice with the securities authorities of alberta and British Columbia. As a result, the Company changed its year-end date to June 30th and it will file audited financial statements for the completed six-month transition year June 30, 2022 on or before October 28, 2022. Please see the Year-End Change Notice filed on SEDAR for more information.

Repricing of existing options

The Company proposes to modify the terms of 14,980,000 stock options (“Choice“) to acquire 14,980,000 ordinary shares of the Company (the “Ordinary actions“). The proposed change is to reduce the exercise price of Stock Options $0.2125 to the greater of (i) $0.15 and (ii) the market price of the common shares, as defined in the policies of the Bourse, on the date of the meeting, being October 4, 2022.

In accordance with the policies of the Exchange, the Company is required to obtain disinterested approval to modify 3,400,000 of the options held by insiders of the Company. The resolution to approve the modification of these options will be submitted to the shareholders of the Company for consideration at the meeting.

The options were granted in March 2022. Since then, the common stock price has been consistently below the exercise price of the options. Therefore, options have had little or no value or incentive for option holders, defeating the purpose of their issuance.

The Company initially issued 16,000,000 Options in March 2022. Pursuant to an agreement between the Company and a consultant of the Company, 1,020,000 Options were canceled with effect August 19, 2022.

ABOUT DEEPMARKIT

DeepMarkit Corp. is a company that focuses on democratizing access to the voluntary carbon offset market by transforming offsets into NFTs. Its common shares are listed on the TSX Venture Exchange under the ticker symbol “MKT”, on the OTC market of United States under the symbol “MKTDF” and on the Frankfurt Stock Exchange under the symbol “DEP”. DeepMarkit Corp. is a software infrastructure company operating in the blockchain tokenization vertical. Its main asset, MintCarbon.io, is a web-based platform that facilitates the minting of carbon offsets in NFT (based on the ERC-1155 standard) or other secure tokens (based on the ERC-20 standard).

Behalf:

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 press release.

CAUTION

Statements in this press release may contain forward-looking information. All statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including statements relating to obtaining shareholder approval on matters to be submitted to the meeting, including Disinterested Shareholder Approval and Stock Exchange Approval. , as the case may be, and their respective timetable. Readers are cautioned that the assumptions used in preparing any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond DeepMarkit’s control. Additional information regarding risks and uncertainties relating to the Company’s business can be found under the heading “Business risks and uncertainties” in the Company’s management report for the period ended. March 31, 2022 and other public documents of the Company which are available under the Company’s profile on SEDAR at www.sedar.com. A variety of factors could cause actual results to differ materially from those in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking information.

The forward-looking statements contained in this press release are made as of the date of this press release, and DeepMarkit undertakes no obligation to publicly update or revise any of the forward-looking statements included, whether as a result of new information, future events or otherwise, except as required by securities law.

SOURCE DeepMarkit Corp.

For further information: Ranjeet Sundher, CEO, Tel. : 403-537-0067, Email: [email protected]Web: www.deepmarkit.com/ Twitter: @DeepMarkit