Conporec Inc.

Conporec Inc.

November 29, 2007 18:09 ET

Conporec Announces the Consolidation of its Shares

SOREL-TRACY, QUEBEC--(Marketwire - Nov. 29, 2007) - Conporec Inc. (TSX VENTURE:CNX) ("Conporec" or the "Corporation") announces that, effective November 29, 2007, it has completed articles of incorporation the consolidation of its common share on the basis of 10 currently issued and outstanding shares for 1 new common share (the "Consolidation"). This Consolidation was approved by the shareholders of Conporec at its annual general and special meeting held on June 12, 2007. During the next days, the shareholders will receive a notice from the transfer agent, CIBC Mellon Trust Company, describing the information required to exchange their common shares certificates and their warrant certificates following the consolidation. The new shares will be traded on the TSX Ventures Exchange inc. (the "TSX Venture Exchange"), under the ticker symbol CNX. Following this Consolidation, the Corporation will retain its name.

Moreover, the warrants currently issued and outstanding will be adjusted automatically, according to the terms and conditions of the Warrants Agreement, as at the effective date of Consolidation to adjust the exercise price of these warrants and the common shares that may be acquired following this Consolidation.

Before the Consolidation, 126 924 130 common shares of Conporec were issued and outstanding. Following the Consolidation, 12 692 413 common shares are issued and outstanding.

This Consolidation is being done to favor and facilitate the investments of various institutional investors, especially European investors, following major issues of shares and convertible securities by Conporec over the past year. As announced by Conporec last November 19, 2007, this Consolidation will also facilitate the Alternext/Euronext eventual listing.

On October 9, 2007, TSX Venture Exchange conditionally accepted the filing on the Corporation related to the Consolidation, subject to filing the documents.

About Conporec

Conporec inc. develops and operates various patented composting and sorting technologies for the treatment and recycling of municipal solid waste. Conporec successfully delivered or under construction of several sorting-composting plants in Canada, France, United States and Australia and also about thirty composting installations in Canada. Conporec is a socially responsible organization listed on the TSX Venture Exchange.

The TSX Venture Exchange has not approved the information contained herein and accepts no responsibility for it, nor the validity of the operation planned.

Contact Information

  • Source: Conporec inc.
    Conporec inc.
    Jean Beaudoin
    President and CEO
    450-746-9996 or 418-527-9996
    HKDP Communications and Public Affairs
    Frederic Berard
    514-395-0375, ext. 230