Hempalta Corp ( (TSE:HEMP) ) just unveiled an update.
Hempalta Corp. has announced the approval of a $325,000 loan from the TSX Venture Exchange, which will provide additional working capital to enhance its industrial hemp carbon credit platform. The loan, advanced by insiders and major shareholders, is part of Hempalta’s strategy to leverage the growing voluntary carbon market. In connection with the loan, the company has issued over 5 million common share purchase warrants to the lenders, marking a related party transaction under TSXV policies. This financing is expected to strengthen Hempalta’s position in the carbon credit industry, supporting its focus on carbon sequestration through industrial hemp.
More about Hempalta Corp
Hempalta Corp. is a nature-based carbon credit provider that utilizes industrial hemp’s potential for carbon sequestration. Through its subsidiary, Hemp Carbon Standard Inc., the company develops methodologies to help farmers monetize regenerative farming practices. Additionally, Hempalta maintains a portfolio of hemp-based products through its subsidiary Hempalta Processing Inc., addressing modern sustainability needs.
YTD Price Performance: 16.28%
Average Trading Volume: 62,933
Technical Sentiment Consensus Rating: Hold
Learn more about HEMP stock on TipRanks’ Stock Analysis page.