DealsJul 9, 2026, 04:18 PM
DevvStream Terminates Carbon Credit Purchase Agreement
AI Summary
DevvStream Corp. and Karbon-X Corp. have mutually agreed to terminate their Carbon Credit Forward Purchase Agreement, originally dated October 28, 2024. Under the terms of the terminated agreement, Karbon-X was to sell C-Sink Credits for $2,892,000, with DevvStream issuing 444,923 common shares as consideration. As neither party had performed any obligations, the termination was executed without penalty or further liabilities for either company.
Key Highlights
- DevvStream Corp. and Karbon-X Corp. mutually terminated their Carbon Credit Forward Purchase Agreement.
- The original Purchase Agreement was dated October 28, 2024, and terminated on July 7, 2026.
- Karbon-X was to sell C-Sink Credits for an aggregate price of $2,892,000.
- DevvStream was to issue 444,923 common shares at a deemed price of $6.50 per share.
- Neither party had performed any obligations under the Purchase Agreement.
- The termination incurs no penalties or further liabilities for either company.
- The Mutual Termination Agreement was entered into as of May 29, 2026.
Price Impact
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