TSXV: MKT OTC: MKTDF FRA: DEP
At the Meeting, Shareholders will be asked to, among other things:
- Receive and consider the audited, consolidated financial statements of the Company for the fiscal year ended
December 31, 2021 ; - Elect
Ranjeet Sundher ,Steve Vanry ,J. Garry Clark ,Paul McKenzie andJames Henning as directors of the Company for the ensuing year; - Appoint the auditors of the Company for the ensuing year and authorize the audit committee of the board of directors of the Company to fix the auditors' remuneration;
- Approve the stock option plan of the Company;
- Approve the equity incentive compensation plan of the Company (see the Company's news release dated
August 19 , 2022); - Approve Radiance Assets Berhad becoming a new "Control Person" (as such term is defined in the
TSX Venture Exchange (the "Exchange") Corporate Finance Manual) of the Company; - Approve an ordinary resolution by the disinterested shareholders ratifying the grant of an aggregate of 15,800,000 restricted share units previously approved by the board of directors of the Company and issued on
August 19, 2022 (see the Company's news release datedAugust 19 , 2022); - Approve an ordinary resolution of disinterested shareholders amending certain previously granted options to insiders of the Corporation, subject to the policies of the Exchange; and
- Pass a special resolution authorizing the change of name of the Company to "
First Carbon Inc. " or such other name as the board of directors of the Company, in their sole discretion and subject to applicable regulatory approval, determines to be appropriate.
The notice of meeting and management proxy and information circular with respect to the Meeting are expected to be mailed to all shareholders on
The Company also announces that it has today filed a Notice of Change in Year-End with the securities regulators in
The Company proposes to amend the terms of 14,980,000 stock option ("Options") to acquire 14,980,000 common shares of Corporation (the "Common Shares"). The proposed amendment is to reduce the exercise price of the Options from $0.2125 to the greater of (i)
Pursuant to the policies of the Exchange, the Company is required to obtain disinterested approval to amend 3,400,000 of the Options held by insiders of the Company. The resolution to approve the amendment of these Options will be put before the shareholders of the Company for consideration at the meeting.
The Options were granted in March, 2022. Since that time the trading price of the Common Shares has been consistently below the exercise price of the Options. As a result, the Options have held little or no value or incentive for the holders of the Options, defeating the purpose of their issuance.
The Company initially issued 16,000,000 Options in March, 2022. Pursuant to an agreement entered into between the Company and a consultant of the Company, 1,020,000 Options were cancelled effective
On behalf of:
DEEPMARKIT CORP.
"Ranjeet Sundher"
Ranjeet Sundher, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
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 approval on the matters to be brought before the Meeting, including disinterested shareholder approval and Exchange approval, as applicable, 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
The forward-looking statements contained in this news release are made as of the date of this news release and
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