DeepMarkit Announces Proposed Share Consolidation, Resignation of Director, and Change of Auditor
(TheNewswire)
Calgary, A
B –
TheNewswire –
May 12, 2023 –
DeepMarkit Corp.
(“DeepMarkit” or the “Company”)
(TSXV:MKT) (OTC:MKTDF) (FRA:DEP)
announces that
it intends to consolidate its common shares (the ”
Shares
“) on the
basis of up to forty (40) pre-consolidation Shares for one (1)
post-consolidation Share (the ”
Consolidation
“).
The specific Consolidation ratio will be determined by the Company
following receipt of shareholder approval. The Company expects to hold
a special meeting to vote on the Consolidation on June 8, 2023 (the
”
Meeting
“). The materials for the Meeting will be mailed to
shareholders and copies will be available on the Company’s profile at
www.sedar.com
in accordance
with the timelines set out in the
Business Corporations Act
(Alberta), and National Instrument 54-101
Communication with Beneficial Owners of
Securities of a Reporting Issuer
. If the
Consolidation is implemented, all outstanding options, warrants and
restricted share units will be adjusted to reflect the Consolidation.
The Company will provide more information about the Consolidation,
including the anticipated effective date, Consolidation ratio, and
instructions to shareholders, following the Meeting.
Resignation of Director
The Company announces that James Henning has resigned
as a director of the Company. The Company thanks Mr. Henning for his
services to the Company and wishes him the very best in his future
endeavors.
Auditor Change
The Company also announces that it has changed its
auditors from Crowe MacKay LLP (“Crowe”) to SRCO
Professional Corporation, Chartered Professional Accountants
(”
SRCO
“).
Crowe resigned effective May 5, 2023. There were no
modified opinions expressed in Crowe’s reports on any of the
Company’s audited financial statements, and no reportable events
between the Company and Crowe. In accordance with National
Instrument 51-102, the Notice of Change of Auditor, together with
the required letters from Crowe, as the former auditor, and SRCO, as
the successor auditor (collectively, the ”
Reporting Package
“), has been reviewed and approved by the DeepMarkit’s
board of directors and the Reporting Package has been filed on SEDAR.
The Company is grateful to Crowe for its services as
the Company’s auditor since 2008.
ABOUT DEEPMARKIT
DeepMarkit Corp. is a technology 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
For more information, please
contact:
Ranjeet Sundher, CEO
Tel: 403-537-0067
Email:
Web:
www.deepmarkit.com/
Twitter: @DeepMarkit
Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept 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 the
completion of the Consolidation and the timing for the holding of a
shareholder meeting to approve same. 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
interim period ended December 31, 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.
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