September 25, 2007 19:27 ET

CCR Technologies Ltd. Shareholders Approve Recapitalization Plan

CALGARY, ALBERTA--(Marketwire - Sept. 25, 2007) - CCR Technologies Ltd. (TSX:CRL) ("CCR" or the "Company"), a leading chemical purification technology solutions and service provider, announces that at a special meeting (the "Meeting") of its shareholders held on September 25, 2007 in Calgary, Alberta, approval was obtained for a private placement and debt settlement arrangement whereby CCR will issue up to 41,800,000 common shares at a price of $.18 per common share involving certain insider shareholders and other possible arm's length purchasers.

Tom Coyne, the Company's CEO, stated, "It is gratifying to receive shareholder approval of our recapitalization plan. This is a strong vote of confidence, and sets the stage for more aggressive implementation of our plan to substantially increase the value we create for our clients and shareholders."

Kent Jespersen, Chairman of CCR noted "We are pleased with the support of our shareholders for the proposed reorganization of the Company's financial affairs. As we move forward this will provide the Company with more flexibility in meeting its current and prospective business requirements, strengthen the Company's working capital position and significantly improve our balance sheet."

The $7.5 million total of funds raised and debt converted is intended to strengthen the Company's working capital position. Approximately $5 million will be used to repay outstanding convertible debentures. Closing of the transaction is anticipated to occur prior to the end of the week. The securities issued pursuant to the private placement will be subject to a four month hold period. The number of common shares issued under the private placement will be approximately 41,800,000 resulting in 87,044,266 common shares outstanding, after completion of the private placement.

About CCR Technologies

CCR Technologies purifies process chemicals and removes impurities from natural gas through the use of proprietary patented separation technologies. The Corporation provides environmental and economic benefits to the upstream and downstream oil and gas industries, and is also pursuing new environmental business opportunities in other industries and international markets. CCR's proven, patented technology is applied via a fleet of mobile units that purify chemicals both on and off client sites. CCR also provides design, engineering and project management services for permanent large scale industrial installations that use its technology, primarily in refineries and offshore gas production. CCR is also the authorized Canadian and South American licensor of the Shell - Paques Biological Gas Desulphurization process for natural gas applications. Other liquid and gas separation technologies are in development. For information, please visit the CCR Technologies website at:

Shares of CCR Technologies Ltd. trade on the Toronto Stock Exchange under the symbol "CRL".

The above disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond CCR's control, including: the impact of general economic conditions in Canada and in countries in which CCR and its subsidiaries currently do business, industry conditions, increased competition, the lack of available qualified personnel or management, equipment failures, fluctuations in product prices and in foreign exchange or interest rates and stock market volatility. CCR's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits CCR will derive there from.

Contact Information

  • CCR Technologies Ltd.
    Tom Coyne
    President and CEO
    (403) 543-6699
    CCR Technologies Ltd.
    Alan D. Mosher C.A
    Vice President and Chief Financial Officer
    (403) 543-6699