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An update from Hempalta Corp ( (TSE:HEMP) ) is now available.
Hempalta Corp. has closed the first tranche of its non-brokered private placement, raising $100,000 through units priced at $0.02, each comprising one common share and a half warrant exercisable at $0.05, with proceeds earmarked for working capital, advancing its nature-based carbon initiatives, and bolstering its balance sheet. The company is also restructuring its finances by settling approximately $340,700 of debt via the issuance of over 12 million shares, including significant issuances to insiders and legal counsel under related-party exemptions, issuing 1 million warrants to a strategic advisor, changing its auditor to Davidson & Company LLP with no reportable disputes, and refreshing its board with new directors and associated stock option grants, steps that collectively aim to improve governance, reduce leverage, and support its strategic pivot in the carbon-focused sector.
More about Hempalta Corp
Hempalta Corp., listed on the TSX Venture Exchange under the symbol HEMP, is transitioning toward a streamlined, nature-based carbon platform, focusing on initiatives that leverage hemp and related natural solutions to generate carbon-related value while strengthening its financial position and capital structure.
Average Trading Volume: 136,474
Technical Sentiment Signal: Sell
Learn more about HEMP stock on TipRanks’ Stock Analysis page.