The Company Expects to Achieve Net Negative
Carbon Emissions via the Retirement of Carbon Credits
CALGARY,
AB, May 9, 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 credits
into non-fungible tokens ("NFTs"), is pleased to announce
the Company's commitment to achieving a net negative level of
carbon emissions ("Net Negative") from its aggregate
operations by the end of 2022. The commitment to becoming Net
Negative means that DeepMarkit will ultimately offset more carbon
than it emits on an annual basis. The Company is planning to become
Net Negative by reducing emissions through operational efficiencies
and by retiring carbon offsets. The Company expects to acquire the
carbon offsets by (i) receiving them as payment for NFT minting
services, or (ii) purchasing a necessary amount of carbon offset
NFTs minted via MintCarbon.io in the open market, based on certain
assumption-driven calculations, and subject to applicable
regulations.
In view of similar announcements made by other companies in the
industry, as well as in the context of recent climate data,
management has deemed it appropriate for DeepMarkit to become Net
Negative. Reversing the effects of climate change not only
requires that emissions be reduced, but also that companies and
governments go beyond carbon neutrality to reduce carbon dioxide
from the atmosphere. Given the nature of DeepMarkit's business and
its desire to be a catalyst for helping companies decrease their
environmental impact by increasing access to carbon offset credits,
DeepMarkit considers it important to make the pledge to offset more
than 100% of its own emissions.
The MintCarbon.io platform allows project developers or holders
of existing carbon credits to gain access to the blockchain by
minting carbon credits into NFTs. Each registry verified NFT
purchased and retired by a buyer from an online NFT marketplace,
such as Opensea.io, represents the offset of one tonne of carbon
dioxide from the atmosphere. The achievement of DeepMarkit's
commitment to becoming Net Negative is subject to DeepMarkit being
able to obtain a sufficient amount of carbon credits, either
through completing NFT minting transactions, or by purchasing
available carbon credit NFTs on the open market.
MANAGEMENT COMMENTARY
"To create real impact in the global fight against climate
change, businesses need to lead the way and push beyond the status
quo. By pursuing carbon negativity, we will champion the
sustainability goals of our customers and partners and work to
leave the world better than we found it. Our team is committed to
going beyond just providing global access to carbon offsets by also
being an active participant in the market for our NFTs. We want to
show our users, clients, partners and shareholders that we are
committed to investing in the future of our platform as well as the
future of our planet," said Ranjeet
Sundher, Interim CEO of DeepMarkit.
ABOUT DEEPMARKIT
DeepMarkit Corp. is a company focused on democratizing access to
the voluntary carbon offset market by minting credits into NFTs.
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 NFTs
(based on the ERC-1155 standard) or other secure tokens (based on
the ERC-20 standard). MintCarbon.io is currently undergoing testing
and FCC anticipates an official launch of the platform in the near
future.
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 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
expectation that the Company will be able to become Net Negative,
within the timeline indicated herein, or ever, the expectation that
the Company will be obtain an adequate number of carbon credits in
order to become Net Negative, the implied expectation that if the
Company will purchase carbon credit NFTs created by MintCarbon.io,
that such credits will be available in sufficient quantities, and
statements relating to the Company's business and corporate plans.
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, including, without limitation, the risk that
the Company is unable to obtain enough carbon credits to become Net
Negative, the risk that such credits or NFTs are unavailable to the
Company, the risk that the Company does not have adequate working
capital to purchase carbon credit NFTs, if required, and risk that,
following evaluation of applicable regulations, the Company is
unable to acquire carbon credits or NFTs, or that acquiring carbon
credits or NFTs becomes impractical. 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 press 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.