TSXV: MKT OTC: MKTDF FRA: DEP
CALGARY, AB, Aug. 19, 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 carbon offsets onto the blockchain, announces that it has granted an aggregate of 15,800,000 restricted share units ("RSUs") to directors, officers, employees and consultants in accordance with the Company's equity compensation incentive plan ("Incentive Plan"), and as compensation for ongoing services rendered to the Company. Each RSU, once vested, will allow the holder to acquire one Common Share of the Company. The RSUs vest on August 19, 2023, subject to earlier vesting in the event of a change of control and subject to the policies of the TSX Venture Exchange (the "Exchange"), and expire on August 19, 2027.
The purposes of the Incentive Plan will be to: (i) provide the Company with a mechanism to attract, retain and motivate highly qualified directors, officers, employees and consultants; (ii) align the interests of eligible participants of the Incentive Plan with that of other shareholders of the Company generally; and (iii) enable and encourage participants to participate in the long-term growth of the Company through the acquisition of RSUs and Common Shares as long-term investments.
While the Incentive Plan has been adopted by the board of directors of the Company, it remains subject to ratification by shareholders of the Company and approval of the Exchange. In accordance with the policies of the Exchange, the Company is required to obtain disinterested shareholder approval for the implementation of the Incentive Plan, as well as any grants completed under the Incentive Plan prior to such approval being obtained. These approvals will be sought at the upcoming meeting of shareholders of the Company. Any shareholders who are entitled to receive RSUs in accordance with the Incentive Plan will be excluded from voting on any resolution to ratify the implementation of the Incentive Plan and any resolution ratifying the RSU grant to the interested shareholder. No RSUs will vest, and no common shares of the Company will be issued in connection with any outstanding RSUs, until such time as the Incentive Plan has received approval of disinterested shareholders and the TSX Venture Exchange. In the event such approvals are not received prior to December 31, 2022, all RSUs will be automatically cancelled without any further right or entitlement.
DeepMarkit Corp. is a 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, 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 relating to obtaining shareholder ratification for the Incentive Plan and RSU grants, Exchange approval in connection therewith, and the respective timing thereof. 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 period ended March 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.
SOURCE DeepMarkit Corp.
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