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Subsequent Events
9 Months Ended
Feb. 28, 2022
Subsequent Events  
NOTE 2 - Subsequent Events

Note 2 – Subsequent Events

 

Subsequent to March 31, 2022 and through June 1, 2022, Karbon-X Corp. completed a private placement pursuant to Rule 506(c) of the Securities Exchange Act of 1934, as amended. In that private placement the company sold 3,820,000 units at $0.25 per unit for total gross proceeds of $955,000. Each unit consisted of  share of common stock and  warrant to purchase a share of common stock for $0.75 per share for a period of two years. In connection with the private placement, the Company paid $10,000 as a finder’s fee.

 

Subsequent to March 31, 2022 and through the date that these financial statements were available to be issued, the Company made two payments amounting to approximately $232,654 to a third-party app development company.

 

On May 19, 2022, the company paid $70,000 to plant 20,000 trees in 2022.

 

On May 6, 2022, the Company signed a lease agreement to rent office space for a one-year term beginning June 1, 2022 at a base rent of $1,627.50 per month.

 

Subsequent events have been evaluated through June 17, 2022, the date these financial statements were available to be released and noted no other events requiring disclosure.

 

Effective June 1, 2022 the Company entered into a Carbon Credits Purchase Agreement with SCB Brokers, S.A. Pursuant to that agreement, the Company agreed to purchase 20,000 tCO2e Carbon Credits from SCB Brokers for $86,000.