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Hempalta Provides Strategic Update Regarding Equipment Sale and FCC Agreement
Calgary, Alberta--(Newsfile Corp. - June 6, 2025) - Hempalta Corp. (TSXV: HEMP) ("Hempalta" or ...
About this update from Hempalta Corp
[{"type":"text","content":"Hempalta Provides Strategic Update Regarding Equipment Sale and FCC AgreementCalgary, Alberta--(Newsfile Corp. - June 6, 2025) - Hempalta Corp. (TSXV: HEMP) (\"Hempalta\" or the \"Company\"), a Canadian-based provider of nature-based carbon credit solutions, today issued a corporate update outlining recent developments in its strategic transition.Equipment Sale UpdateOn May 22, 2025, Hempalta announced its wholly owned subsidiary, Hempalta Processing Inc. (\"HPI\"), had entered into a US$1.15 million agreement to sell its hemp processing and biochar equipment (the \"Transaction\"). Despite follow up discussions and repeated assurances, the purchase price has not been paid to HPI; accordingly, HPI has retained ownership of all equipment and associated intellectual property and has reinitiated the asset sale process. Interested parties may contact the Company for additional details.FCC Forbearance Agreement In connection with the termination of the Transaction, HPI, has entered into a forbearance agreement with Farm Credit Canada (\"FCC\") dated effective June 2, 2025. This agreement extends protection through June 30, 2025, providing HPI time to complete a revised monetization plan for its processing assets while maintaining transparency and compliance with its senior lender.Carbon Credit Market Momentum ContinuesThe Company's 2024 carbon credits now total 29,448 tonnes of CO₂ removal across 12,669 acres under the Hemp Carbon Standard. These credits are available for purchase via the Company's Cloverly storefront (hempcarbonstandard.cloverly.app), and discussions with corporate buyers are ongoing. CEO to Speak at Canadian Climate Investor ConferenceHempalta President and CEO Darren Bondar will be speaking at the 2025 Canadian Climate Investor Conference hosted by the Toronto Stock Exchange (TSX and TSXV) on June 11, 2025, at the Arcadian Court in Toronto. Mr. Bondar will outline Hempalta's strategic pivot to nature-based carbon credit markets and showcase the scalable growth opportunity through its Hemp Carbon Standard platform.About Hempalta Corp.Hempalta Corp. (TSXV: HEMP) is a Canadian clean-tech company focused on high-integrity carbon removal credits derived from industrial hemp. Through its wholly owned subsidiary, Hemp Carbon Standard Inc., the Company supports regenerative agriculture, biochar deployment, and AI-po...