DeepMarkit Gains Access to Global Carbon Credits via Referral Arrangement

DeepMarkit Corp., (“DeepMarkit or the “Company”) (TSXV: MKT) (OTC: MKTDF) (FRA: DEP), a company focused on democratizing access to the voluntary carbon offset market by minting credits into non-fungible tokens (“NFTs“), is pleased to announce that it has advanced its previously announced letter of intent (“LOI“) with Radiance Assets Berhad (“Radiance“) to a binding definitive agreement (the “Definitive Agreement“). Based in Malaysia, Radiance is a diverse investment holding company with a focus on innovative and technologically driven businesses in the areas of Cleantech, Meditech and Fintech. Radiance also has a focus on the environment and solutions that better peoples’ lives. Radiance has several classes of funds including a new Agritech fund being launched with an asset value of USD 250 million. As previously announced, Radiance is currently a shareholder of DeepMarkit via recent private placements.

The Definitive Agreement between DeepMarkit and Radiance is an arrangement under which Radiance will introduce carbon credit projects for onboarding through DeepMarkit’s MintCarbon.io platform which is being developed to mint carbon offset credits into NFTs. Any minting and royalty-based revenues earned by DeepMarkit via Radiance’s referrals will result in a percentage-based sharing arrangement with Radiance. The fees payable to Radiance under the Definitive Agreement shall be payable in cash, common shares of DeepMarkit (“Common Shares“), or a combination thereof, at the sole discretion of DeepMarkit, and subject, where applicable, to TSX Venture Exchange (“TSXV“) approval and applicable securities laws for any given payment made in Common Shares. In the event DeepMarkit elects to make any payment or portion thereof in Common Shares, the applicable price at which such Common Shares shall be deemed to be issued shall be the greater of (i) the Discounted Market Price, and (ii) the volume-weighted average price of the Common Shares trading on the TSXV for the ten (10) trading days prior to the effective date of such payment, subject to a pricing floor equal to CAD 0.82. Payment in Common Shares is subject to TSXV approval, and in the event DeepMarkit elects to make a payment to Radiance in Common Shares that would result in Radiance holding greater than 20% of the issued and outstanding Common Shares of DeepMarkit at any time, DeepMarkit will be required to obtain specific TSXV approval for Radiance to become a “Control Person”, which will require approval from DeepMarkit’s shareholders in accordance with TSXV policies. The completion of any transaction with a carbon credit project introduced to DeepMarkit by Radiance is subject to the entering into of an agreement among DeepMarkit and the customer, and DeepMarkit’s ability to complete the minting transaction in accordance with applicable regulations.

“We are pleased to have finalized the Definitive Agreement with Radiance so quickly and believe that it will act as a major building block for DeepMarkit and its MintCarbon.io platform. Radiance’s confidence in MintCarbon.io further validates our thesis that utilizing blockchain technology is the best pathway to accessibility, transparency and the international achievement of carbon neutrality,” stated Ranjeet Sundher, Interim CEO of DeepMarkit. “Radiance’s introduction of new users and their carbon projects is also expected to bring significant transaction volume to our platform. We are grateful to have Radiance as a shareholder and collaborator and are looking forward to working with them to expand our global presence,” added Mr. Sundher.

“Radiance has the business connections and financial capacity to support DeepMarkit in the execution of its corporate goals. Our recent investment in DeepMarkit and the execution of this agreement are a testament to our belief in the company and the sector,” commented Jamie Stevenson, CEO of Radiance.

The MintCarbon.io platform creates NFTs that are deposited into the originator’s blockchain wallet, whereby the NFT or Token will become a traceable, liquid asset capable of being listed for trading on nearly any decentralized exchange in the world. MintCarbon.io enables anyone to access information about carbon credit-based NFTs or Tokens, including a link to their respective trading platforms (e.g. OpenSea.io) through an easy-to-use interface.