M&A
confidence high
sentiment neutral
materiality 0.95
Karbon-X Corp. acquires Karbon-X Project in reverse merger; new focus on VERRA carbon credits
Karbon-X Corp.
- Acquired 100% of Karbon-X Project via stock issuance of 64.9M shares (~99% of outstanding) to target shareholders.
- New CEO Chad Clovis appointed; company renamed from Cocoluv, Inc. to Karbon-X Corp.
- Raised $955K in private placement (3.82M units at $0.25/unit with warrants exercisable at $0.75).
- Signed LOIs with Silversmith Power (hydroelectric carbon credits) and Heimdal (50% equity in ocean carbon capture).
- Business now focused on VERRA Certified carbon credits via industrial sales and subscription app; three employees.