TORONTO, ONTARIO — (Marketwire) — 03/19/12 — Solutions4CO2 Inc. (the “Corporation”) is pleased to announce that it has completed its offering (the “Offering”) of Special Warrants (as herein defined) at a price of $0.20 per Special Warrant for aggregate gross proceeds of $3,079,000.
The Offering consisted of 7,580,000 tranche 1 special warrants (the “Tranche 1 Special Warrants”) which were issued on a prospectus-exempt basis on November 1, 2011, 3,075,000 tranche 2 special warrants (the “Tranche 2 Special Warrants”) which were issued on a prospectus-exempt basis on January 6, 2012 and 4,740,000 tranche 3 special warrants (the “Tranche 3 Special Warrants”) which were issued to the public pursuant to a final prospectus dated March 8, 2012 (the “Prospectus”). (The Tranche 1 Special Warrants and the Tranche 2 Special Warrants, together with the Tranche 3 Special Warrants are collectively referred to herein as the “Special Warrants”). The terms of the Special Warrants are set out in the Prospectus.
The Prospectus was filed with the Ontario Securities Commission, the Alberta Securities Commission, the British Columbia Securities Commission and the Saskatchewan Financial Services Commission.
In addition to the qualification for sale of the 4,740,000 Tranche 3 Special Warrants, the Prospectus qualified the issuance of 10,655,000 common shares of the Corporation issuable on the exercise of the 7,580,000 Tranche 1 Special Warrants and the 3,075,000 Tranche 2 Special Warrants.
The Corporation also announces that Carrus Capital Corporation (TSX VENTURE: CHQ) has exercised an aggregate of 4,230,000 Tranche 1 Special Warrants and Tranche 2 Special Warrants into 4,230,000 common shares on March 13, 2012 and that the TSX Venture Exchange has approved the payment of a dividend in kind of these common shares to Carrus– shareholders. The common shares of the Corporation are expected to commence trading on the TSX Venture Exchange under the trading symbol of “SFC” on a “when issued” basis on March 23, 2012. The “when issued” trading period is expected to end on March 30, 2012 following the payment of the dividend by Carrus. Following this payment, and on receipt of the final listing approval of the TSX Venture Exchange, each outstanding Special Warrant will automatically exercise, for no additional consideration, into one common share of the Corporation.
The Corporation also announces it issued 2,500,000 common shares at a price of $0.20 per common share for aggregate proceeds of $500,000 on a prospectus-exempt basis to the Sustainable Chemistry Alliance in a non-brokered transaction on November 1, 2011.
Macquarie Private Wealth Inc. (the “Agent”) acted as agent for the sale of the Special Warrants. In connection with the Offering, the Agent received an aggregate commission equal to 10% of the aggregate gross proceeds of the sale of Special Warrants. This commission was partially paid by the issuance of Special Warrants. The Agent was also issued broker warrants (the “Broker Warrants”), in an amount equal to 10% of the number of the Special Warrants issued pursuant to the Offering. Each Broker Warrant is exercisable into one common share of the Corporation for a period of 24 months from the Going Public Transaction (as such term is defined in the Prospectus) at a price of $0.20 per common share.
About the Corporation:
The Corporation is an early stage company that intends to design, build, operate and maintain waste gas/water systems for the waste gas/water to co-products market. The Corporation–s system utilizes patented technology under exclusive license and supply agreements to efficiently capture and separate the primary greenhouse gases, such as carbon dioxide, nitrogen dioxide and sulphur dioxide, from post combustion, fermentation or biogas processes. The system utilizes these gases in the production of high-value co-products.
About Sustainable Chemistry Alliance:
The Sustainable Chemistry Alliance () is a not-for-profit organization established in 2008 to promote growth and prosperity by fostering and supporting innovation, development, commercialization and related business activities and projects in the area of green and sustainable chemistry. SCA is supported by the Bioindustrial Innovation Centre, a Centre of Excellence for Commercialization of Research with funding from the Government of Canada.
For more information, please visit , or view the Prospectus on SEDAR at .
Contacts:
Solutions4CO2 Inc.
Douglas Kemp-Welch
CEO
416-803-9435
GreenEdge Capital Solutions
Susan McLean
416-995-9283