InvestorNewsBreaks DeepMarkit Corp. (TSX.V: MKT) (OTC: MKTD...| MENAFN.COM

Thursday, 27 January 2022 03:07 GMT

InvestorNewsBreaks DeepMarkit Corp. (TSX.V: MKT) (OTC: MKTDF) Announces LOI for Acquisition of First Carbon Corp., Concurrent Private Placement


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DeepMarkit (TSX.V: MKT) (OTC: MKTDF) recently announced its entry into a non-binding letter of intent (“LOI”) to acquire all of the issued and outstanding shares of First Carbon Corp. (“FCC”). The LOI sets forth the general terms and conditions of the acquisition, pursuant to which FCC shareholders will receive an aggregate of approximately 15,000,000 common shares of DeepMarkit (“common shares”), each issued at a deemed price of $0.50, for deemed consideration of approximately $7,500,000 (the“acquisition”). In addition, DeepMarkit announced a non-brokered private placement. Under the private placement, subject to acceptance by the TSX Venture Exchange, DeepMarkit intends to issue, pursuant to applicable exemptions from prospectus requirements of Canadian securities laws, up to 4,000,000 units, each at a price of $0.50, for gross proceeds of up to $2,000,000. Each unit comprises one common share and one common share purchase warrant (each, a“warrant'). Each warrant will entitle the holder to purchase one additional common share of DeepMarkit at an exercise price of $1.25 for a period of three years from the date of the issuance.

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About DeepMarkit

DeepMarkit is a technology company focused on creating new tools and technologies to aid businesses in sales development and increasing profitability. For more information, visit the company's website at .

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