Business
Hempalta Announces Closing of First Tranche of Private Placement, Debt Settlements, Change of Auditor, Board of Directors Changes and Grant of Stock Options
Calgary, Alberta--(Newsfile Corp. - December 23, 2025) - Hempalta Corp.   (TSXV: HEMP) ...
About this update from Next Phase Ventures Limited
[{"type":"text","content":"Hempalta Announces Closing of First Tranche of Private Placement, Debt Settlements, Change of Auditor, Board of Directors Changes and Grant of Stock OptionsCalgary, Alberta--(Newsfile Corp. - December 23, 2025) - Hempalta Corp. (TSXV: HEMP) (\"Hempalta\" or the \"Company\") provides a corporate update further to its November 17, 2025 press release, announcing the closing of the first tranche of its previously announced non-brokered private placement, completion of certain debt settlement transactions, and a change of auditor, as the Company continues its transition toward a streamlined, nature-based carbon platform.First Tranche of Private PlacementThe Company has closed the first tranche of its non-brokered private placement, raising $100,000 in gross proceeds.The private placement consists of units priced at $0.02 per unit, with each unit comprised of one (1) common share of the Company and one-half (½) of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at an exercise price of $0.05 for a period of 24 months from the date of issuance, provided that if the closing price of the Company's common shares equals or exceeds $0.20 for five (5) consecutive trading days, the Company may, at its option, accelerate the expiry of the warrants by providing notice to holders, in which case the warrants will expire 30 days from the date of such notice.Proceeds from the financing are being used to support working capital, advance Hempalta's nature-based carbon initiatives, and strengthen the Company's balance sheet.Debt Settlement TransactionsIn connection with its previously announced balance-sheet restructuring initiatives, Hempalta has entered into shares-for-debt settlement agreements with certain creditors to settle an aggregate of $340,696.86 in outstanding indebtedness. Pursuant to these agreements, the Company will issue a total of 12,034,843 common shares at a deemed price of $0.02 per share in full and final settlement of such indebtedness.Of the common shares issued pursuant to the debt settlement transactions, an aggregate of 9,169,731 common shares will be issued to insiders of the Company, including 5,000,000 common shares issued to Darren Bondar, a director and officer of the Company, and 4,169,731 common shares issued to Prairie Merchant Corporation...