DeepMarkit Provides Transaction Update

/NOT FOR DISSEMINATION IN THE UNITED STATES/

TSXV: MKT

CALGARY, AB, Feb. 11, 2022 /CNW/ - DeepMarkit Corp., ("DeepMarkit" or the "Company") (TSXV: MKT), a technology company focused on creating new tools and technologies to aid businesses in sales development and increasing profitability, is pleased to provide an update with respect to its previously announced acquisition ("Acquisition") of First Carbon Corp. ("First Carbon"). As previously announced on January 17, 2022, the Acquisition has been conditionally accepted by the TSX Venture Exchange (the "Exchange").  Closing of the Acquisition and non-brokered private placement ("Private Placement") is subject to receipt of final approval from the Exchange upon satisfaction of all remaining conditions. The Company is working expeditiously to satisfy the remaining conditions.

All DeepMarkit common shares issued pursuant to the Acquisition and Private Placement will be subject to a four month hold period required under applicable securities laws and the policies of the Exchange. Trading in DeepMarkit's common shares is currently halted pending final approval from the Exchange for the Acquisition and Private Placement. Trading is expected to resume two business days following the issuance of the Exchange's bulletin confirming that final approval for the Acquisition has been issued. 

Overview of First Carbon

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 completing testing in anticipation of the  official launch of the platform.

ABOUT DEEPMARKIT

DeepMarkit Corp. is a technology company focused on creating new tools and technologies to aid businesses in sales development and increasing profitability.

On behalf of:

DEEPMARKIT CORP.

"Ranjeet Sundher"
Ranjeet Sundher, Interim CEO

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) accepts responsibility for the adequacy or accuracy of this news release.

CAUTIONARY STATEMENT

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.

The forward-looking statements contained in this press release are made as of the date of this press 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.

Copyright 2022 Canada NewsWire