Top Energy to Introduce and Onboard Carbon
Credits Derived From Clean Energy Projects to the MintCarbon.io
Platform of DeepMarkit's Wholly Owned Subsidiary First Carbon
Corp.
CALGARY, AB,
March 23, 2022 /CNW/ -
DeepMarkit Corp., ("DeepMarkit" or the "Company") (TSXV:
MKT) (OTC: MKTDF) (FRA: DEP), a technology company focused
on creating new tools and technologies to aid businesses in sales
development and increasing profitability, is pleased to announce
that it has signed a letter of intent ("LOI") with Top
Energy USA ("Top
Energy"). DeepMarkit and Top Energy are currently working
to crystalize the LOI into a definitive agreement in order to form
a carbon offset arrangement pursuant to which Top Energy will
introduce and onboard carbon credit projects onto the blockchain
through MintCarbon.io, which is the platform developed by
DeepMarkit's wholly owned subsidiary, First Carbon Corp.
![DeepMarkit Corp. (TSXV: MKT, OTC: MKTDF, FRA: DEP) (CNW Group/DeepMarkit Corp.) DeepMarkit Corp. (TSXV: MKT, OTC: MKTDF, FRA: DEP) (CNW Group/DeepMarkit Corp.)](https://mma.prnewswire.com/media/1771661/DeepMarkit_Corp__DeepMarkit%C2%A0Executes%C2%A0LOI%C2%A0with_Top_Energy_Regardi.jpg)
By way of the arrangement, DeepMarkit expects to benefit from
extensive and diverse exposure to numerous alternative
electricity-based carbon projects. Under the terms of the LOI,
DeepMarkit and Top Energy will conduct necessary due diligence and
negotiate the terms of a definitive agreement to govern the terms
of the arrangement. The ultimate structure of the arrangement will
be subject to applicable regulations as well as applicable
securities, corporate and tax laws. The definitive agreement, and
any transaction completed in connection therewith, may be subject
to TSX Venture Exchange approval.
Based in the United States, Top
Energy is a company focused on eco-friendly energy solutions in
Mexico and Spain. Top Energy
has specialized in clean energy technology in Spain since 2003 and expanded into
Mexico in 2013. Top Energy has
installed more than 41.8 megawatts ("MW") of clean energy
across 23 states of the Mexican Republic representing more than 100
institutional clients.
Management Commentary
"Top Energy foresees incredible potential in this strategic
alliance with First Carbon, bringing transparency and validation to
an obscure market. We seek to take the 'wild west' out of the
carbon trading world by marrying our clean energy credits
with blockchain technology. This will offer an additional
layer of assurance to our buyers, as well as making Top Energy
credits internationally accessible. This sector is in severe need
of additional green financing mechanisms to help the mass adoption
of renewable energy in developing nations, especially in parts of
the world without proper carbon markets. Through our partnership
with the First Carbon platform, Top Energy seeks to realize
liquidity through providing tokenized access to carbon projects,"
said Jonathan Gonzalez, CEO of Top
Energy.
"Top Energy is an exciting business that we are looking forward
to becoming our newest counterparty. Their group shares
DeepMarkit's commitment to the environment, specifically by
providing ecological solutions to modern day energy mandates. We
are excited to bring a diverse array of technology-based offset
credits to the MintCarbon.io platform. Once formalized, this
arrangement will provide liquidity to Top Energy's carbon credits,
while delivering DeepMarkit important and valuable transaction
volume," said Ranjeet Sundher,
Interim CEO of DeepMarkit.
ABOUT DEEPMARKIT
DeepMarkit Corp. is a technology company focused on creating new
tools and technologies to aid businesses in sales development and
increasing profitability. Its common shares are listed on the TSX
Venture Exchange under the "MKT" stock symbol. DeepMarkit's wholly
owned subsidiary, 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
undergoing testing and FCC anticipates an official launch of the
platform in 2022.
On behalf of:
DEEPMARKIT CORP.
"Ranjeet Sundher"
Ranjeet Sundher, Interim 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.
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, including, without limitation,
statements with respect to DeepMarkit entering into a definitive
agreement with Top Energy and completing the transactions described
hereunder, statements with respect to the benefits expected to be
received from DeepMarkit from the arrangement with Top Energy (and
the quantum of such benefit), and statements regarding the launch
of MintCarbon.io. 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 enter into a definitive agreement, failure to obtain necessary
final regulatory approvals for the transactions described
hereunder, failure to enter into a definitive agreement, the
decision by Top Energy or DeepMarkit to not complete the
transactions as a result of due diligence investigations or as a
result of regulatory or other legal considerations. The
reader is cautioned not to place undue reliance on any
forward-looking information.
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.