TORONTO, ONTARIO — (Marketwired) — 11/28/13 — Solutions4CO2 Inc. (“S4CO2” or the “Company”) (TSX VENTURE: SFC) is pleased to announced today that it intends to proceed with a private placement offering of up to 5,000,000 units (“Units”) at a subscription price of C$0.30 per Unit for gross proceeds of up to C$1,500,000 (the “Private Placement”). Each Unit will consist of one common share (“Common Share”) and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one Common Share at a price of C$0.50, for a period of 24 months from the date of closing. The securities to be issued will be subject to a statutory four month-plus-one-day hold period from the date of closing.
The Private Placement offering of up to 5,000,000 units will be comprised of a non- brokered offering of up to 666,667 Units and a brokered offering of up to 4,333,333 Units. The Company has received subscriptions for 616,667 Units under the non-brokered offering. AltaCorp Capital Inc. (the “Agent”) has been retained as agent to place the brokered offering with qualified purchasers on a best efforts basis. Closing on the non-brokered offering is expected on or before December 2, 2013, and the brokered offering is expected to close on or before December 6, 2013, or such other date as may be agreed on by the Company and the Agent.
The Private Placement will be conducted in reliance upon certain prospectus and registration exemptions. The net proceeds from the Private Placement will be used to enhance the Company–s cash on hand and strengthen its working capital position. S4CO2 currently has 42,298,922 Common Shares outstanding.
The Private Placement is subject to all applicable regulatory approvals, including the acceptance of the TSX Venture Exchange.
Douglas Kemp-Welch, CEO of S4CO2 commented:
“With the recent announcement of our joint venture to process North Atlantic shrimp co-products into high phospholipid, Omega 3, astaxanthin enriched oils for sale into the nutraceutical and pharmaceutical markets, it is prudent for the Company to strengthen its working capital position to pursue this opportunity and our high EPA algae oil project in advance.”
About Solutions4CO2 Inc:
Solutions4CO2 is a Canadian company that develops innovative waste-gas, water, biomass to high-value co-product solutions for the nutraceutical and pharmaceutical markets using proprietary and licensed technologies under the trademarks Integrated Biogas Refinery (“IBR”) and Bio-Extraction Process (“BEP”). The IBR integrates proprietary and licensed technology to process organic waste streams into high-value algae derived co-products. The BEP utilizes a liquid solvent process to extract high-value co-products from shrimp by-products.
Forward-looking Statements
This news release may contain forward-looking statements that are based on Solutions4CO2–s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Solutions4CO2 Inc.
Douglas Kemp-Welch
CEO
416-803-9435
Solutions4CO2 Inc.
Dil Vashi
Manager Corporate Development
416-803-9435 extension 104