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Hempalta Corp. Announces Enhanced Strategic Focus on Carbon Credit Business and Non-Brokered Private Placement
Strategic Focus on Nature-Based Carbon Credit Solutions Through Hemp Carbon Standard Pr...
About this update from Next Phase Ventures Limited
[{"type":"text","content":"Hempalta Corp. Announces Enhanced Strategic Focus on Carbon Credit Business and Non-Brokered Private PlacementStrategic Focus on Nature-Based Carbon Credit SolutionsThrough Hemp Carbon Standard Proposed non-brokered private placement of up to 30,000,000 units at $0.05 per unit for aggregate gross proceeds of up to $1,500,000Calgary, Alberta--(Newsfile Corp. - January 21, 2025) - Hempalta Corp. (TSXV: HEMP) (\"HEMPALTA\" or the \"Company\") today announced an enhanced strategic focus on nature-based carbon credit solutions. As part of this focus, the Company will transition its operations to prioritize premium hemp-derived carbon credits through its subsidiary, Hemp Carbon Standard Inc. (\"HCS\"), while continuing to manage its intellectual property and product lines under Hempalta Processing Inc.In addition, the Company announced a proposed non-brokered private placement of up to 30,000,000 units of the Company (\"Units\") at a price of $0.05 per Unit for aggregate gross proceeds of up to $1,500,000 (the \"Private Placement\"). Each Unit will consist of one common share (\"Common Share\") and one-half of one common share purchase warrant, with each full warrant (\"Warrant\") being exercisable to purchase one Common Share at a price of $0.10 for two years from the date of issuance. Highlights of Enhanced Focus on Carbon Credit Business Hemp Carbon Standard A wholly owned subsidiary dedicated to developing and managing the scientific methodologies, farmer onboarding, and validation frameworks for hemp-based carbon credits. HCS plans to ensure transparency and integrity in measuring, verifying, and issuing high-quality credits that meet global market demand.Hempalta Processing Inc.Retains ownership of key HEMPALTA product lines such as Hempy Cat, Hemp Fresco, and Hempzorb, offering them for licensing, while ceasing active processing operations and continuing to market and sell already processed products. This approach intends to maximize value for these well-established brands, allowing for potential new partnerships and licensing revenue.Non-Brokered Private Placement The Company intends to complete the Private Placement pursuant to available prospectus exemptions. The use of proceeds from the Private Placement is dependent on the final amount raised and will be used to: scale the HCS platform, to market carbon credits to corporat...