Hempalta Corp. (TSXV:HEMP) entered into a definitive share purchase agreement to acquire 50.1% stake in Hemp Carbon Standard Inc. from Climafi Limited for CAD 2.5 million on April 15, 2024. The consideration consists of CAD 0.04 million in cash and CAD 2.50 million through the issuance of 12.5 million common shares of Hempalta.

The Transaction is an arm's length transaction and no finder's fees are payable in connection with the Transaction. The Transaction remains subject to several closing conditions including and not limited to the approval of the TSXV Venture Exchange and is expected to close on or around April 30, 2024.