DeepMarkit Announces Proposed Share Consolidation, Resignation of Director, and Change of Auditor
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Calgary, AB - 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.
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:
"Ranjeet Sundher"
Ranjeet Sundher, CEO
For more information, please contact:
Ranjeet Sundher, CEO
Tel: 403-537-0067
Email: corp@deepmarkit.com
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.
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.