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Hempalta Corp ( (TSE:HEMP) ) has issued an update.
Hempalta Corp. has announced the closure of its Calgary processing facility as part of its strategic shift to focus exclusively on its high-growth carbon credit business. The company has entered into a binding agreement to sell its industrial hemp processing equipment, with proceeds expected to address outstanding liabilities and strengthen its balance sheet. Hempalta continues to see growth in its carbon credit business, with significant sequestration volumes verified and further expansion anticipated. The company is actively engaging with global carbon buyers and partners, showcasing its innovative carbon credit methodology at industry events.
More about Hempalta Corp
Hempalta Corp. is a Canadian-based innovator in nature-based carbon credits, utilizing industrial hemp to sequester carbon. Through its subsidiary Hemp Carbon Standard Inc., the company develops methodologies and supports farmers in monetizing regenerative farming practices. Hempalta also retains hemp-based product lines for licensing, addressing modern sustainability needs.
Average Trading Volume: 37,310
Technical Sentiment Signal: Hold
See more insights into HEMP stock on TipRanks’ Stock Analysis page.