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.

Hempalta Corp. (TSXV:HEMP) completed the acquisition of 50.1% stake in Hemp Carbon Standard Inc. from Climafi Limited on May 1, 2024. Pursuant to the terms of the SPA, Climafi received: (i) a one-time cash payment of CAD 0.04million; and (ii) an aggregate of 12,500,000 common shares of Hempalta ("Shares"), issued at a deemed price of CAD 0.16 per Share. No finders' fees were paid in connection with the transaction. In connection with the closing of the transaction the shares will be issued to Climafi and its shareholders. The completion of the Transaction marks a significant milestone in HEMPALTA's focus on sustainable business practices and provides the Company with an additional revenue stream to its consumer packaged goods and commercial products divisions.