CALGARY, ALBERTA (March 21, 2024) – Hempalta Corp. (TSXV:HEMP) (“HEMPALTA” or the “Company”), an agricultural technology company focused on producing commercial and consumer products derived from industrial hemp, is set to ring the opening bell at the TSX Venture Exchange (“TSXV”) in Toronto tomorrow – Friday, March 22, 2024 – to recognize its successful listing and completion of the qualifying transaction. In connection with the opening bell, the common shares of HEMPALTA will trade under the symbol “HEMP.”
"We can hardly contain our enthusiasm as we gear up to mark a monumental occasion: our public debut on the TSX Venture Exchange, complete with the exhilarating ringing of the bell at market open on Friday,” said Darren Bondar, President and CEO of HEMPALTA. "This milestone stands as a testament to the unwavering commitment and tireless efforts of our exceptional team, as we proudly elevate the HEMPALTA brand onto the global stage."
A live webcast of the event is expected to be available on Friday, March 22 just before 9:30am ET on BNN Bloomberg and on YouTube at the link here.
Market Liquidity Program
HEMPALTA also announces the retention of Velocity Trade Capital Ltd. (“Velocity Trade”) to provide market liquidity services, in compliance with the policies and guidelines of the TSXV, and other applicable regulations.
Pursuant to the terms of the agreement with Velocity Trade, Velocity Trade will manage trading of the Company's securities listed on the TSXV from time to time for the purposes of maintaining an orderly market, with a view to reducing trading volatility and improving the liquidity of the Company's securities. The funding and securities required for these services undertaken will be provided by Velocity Trade.
The agreement with Velocity Trade will begin March 22, 2024 and has an initial term of two months with subsequent monthly renewals until terminated by either party. Velocity Trade will receive a cash fee of $5,000 per month. There are no performance factors contained in the agreement between Velocity Trade and HEMPALTA, and Velocity Trade will not receive any shares or options from HEMPALTA as compensation for services it will render. None of Velocity Trade nor its affiliates or associates has any interest directly or indirectly in the Company or its securities, or any right or intent to acquire such an interest.
Velocity Trade is a private and independent investment dealer headquartered in Toronto, Ontario, and is registered for trading in the provinces of Ontario, British Columbia, Alberta, and Manitoba. Velocity Trade is a member of the TMX, and of the Canadian Investment Regulatory Organization (CIRO). Additionally, the firm and its affiliate companies are regulated internationally by the UK's Financial Conduct Authority (FCA), the Authority for Financial Markets (AFM) in the Netherlands, the Australian Securities and Investments Commission (ASIC), South Africa's Financial Sector Conduct Authority (FSCA), and the Monetary Authority of Singapore (MAS), among others.
Velocity Trade and HEMPALTA are not related parties and have no other agreements other than the market liquidity agreement which is a subject in this news release.
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About HEMPALTA
Hempalta Corp. is focused on harnessing the immense potential of hemp. The Company’s products are made from hemp grown sustainably in Alberta and processed using a state-of-the-art processing plant at its production facility in Calgary. HEMPALTA is led by passionate advocates for industrial hemp who have years of operations, manufacturing, marketing, consumer packaged goods, and retail sales experience. The Company has been named a Top 10 Startup by Platform Calgary’s Launch Party and recognized as one of the 50 most investable clean technology companies by Foresight Canada. HEMPALTA is a proud sponsor of the Wilder Institute/Calgary Zoo and provides sustainable hemp-based products to the zoo’s operations. Learn more at www.hempalta.com.
HEMP TO BETTER THE PLANET.™
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This press release contains “forward-looking statements” within the meaning of Canadian securities laws. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s information circular found at sedarplus.ca.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
For further information
Darren Bondar, President and CEO
Email: info@hempalta.com
Phone: 1-877-622-3354
www.hempalta.com
