SOURCE: HTC Purenergy Inc.

December 22, 2009 13:05 ET

HTC Purenergy Completes Acquisition of Carbon Capital Management Inc.

REGINA, SK--(Marketwire - December 22, 2009) - HTC Purenergy ("HTC" or "Corporation") (TSX-V: HTC) today announced it has completed the previously announced acquisition of Carbon Capital Management Inc. ("CCM"). HTC has acquired 90% of the issued and outstanding shares of CCM and Front Street Capital 2004 has retained the remaining 10%. In addition to providing HTC and Carbon Rx Inc. owned products, services and technology rights including trademarks, trade-secrets and processes to CCM, HTC has, as part of the consideration, issued 100,000 units ("Unit") to Front Street Capital 2004. Each Unit comprises one common share, and one common share purchase warrant, entitling the holder to purchase one common share at a price of $3.00 for a period of five years, expiring December 15, 2014. The common shares are subject to a hold period expiring April 22, 2010.

About HTC

HTC is a publicly traded (TSX-V: HTC) energy technology company that is commercializing Carbon Capture and Carbon Management Technologies for power generation, fuel processing and other industrial carbon emitter facilities. HTC has strategically aligned with and has licensed its CO2 capture technologies to world leading energy infrastructure providers Doosan Babcock Energy/Doosan Heavy Industries ("Doosan"), since September 2008. Doosan designs, supplies and constructs advanced steam generation technology for the power industry, developing some of the cleanest, most efficient power generation plants in the world. Doosan is also a leading energy services company operating in the thermal power, nuclear, oil & gas and petrochemical industries. Doosan owns 15% of HTC and holds a seat on HTC's board of directors.

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 THE RELEASE.

HTC Purenergy corporate developments can be followed on www.htcenergy.com and is traded under the symbol HTC

Contact Information

  • For more information contact:
    Jeff Allison
    HTC Purenergy
    Telephone: (306) 352-6132
    Fax: (306) 545-3262
    E-mail: jallison@htcenergy.com