Innoventé inc.

Innoventé inc.

August 17, 2010 16:36 ET

Innovente Obtains Receipt for a Final Prospectus for its Public Offering of a Minimum of $6,000,000 and a Maximum of $12,000,000 and Announces Having Received Approval...

...From The Regie de l'energie of Quebec

QUEBEC CITY, QUEBEC--(Marketwire - August 17, 2010) - INNOVENTE INC. ("Innovente" or the "Company") announces that it has received a receipt for its final prospectus filed with the regulatory authorities in Québec, Ontario, Alberta and British Columbia, with respect to a public offering of a minimum of $6,000,000 or 4,800,000 units and a maximum of $12,000,000 or 9,600,000 units at a price of $1.25 per unit (the "Unit"). Each Unit consists of one common share of the Company and one common share purchase warrant. Each common share purchase warrant comprising the Unit entitles its holder to purchase one common share at a price of $1.55 and is valid for a period of twenty-four months following the closing of the offering. Copies of the final prospectus may be obtained from Industrial Alliance Securities Inc., 2200 McGill College Avenue, Suite 350, Montreal, Québec H3A 3P8 and from M Partners Inc., 100 Wellington Street West, Suite 2201, P.O. Box 320, Toronto, Ontario M5K 1K2.

The Company has also obtained the conditional approval from the TSX Venture Exchange Inc. pertaining to the listing of its securities.

Approval from the Régie de l'énergie of Québec

Innovente would also like to announce it has obtained the approval from the Régie de l'énergie of Québec regarding the electricity supply contract entered into between Hydro-Québec (acting through its division Hydro-Québec Distribution) and the Company on February 11, 2010 for the production of electricity from a cogeneration plant with a 4.6 MW capacity. This approval is now allowing the contract to be fully deliverable.

About Innovente

Innovente owns exclusive commercialization rights for an innovative technology that allows production of green energy using organic waste. Each region produces different types of agricultural, municipal and industrial waste (manure, municipal sludge, food processing sludge, etc.) which are costly to dispose of and often cause serious environmental problems. Through the development of regional power stations, Innovente wishes to create solutions for organic waste management, energy security and reduction of greenhouse gases. Hydro-Québec (acting through its division Hydro-Québec Distribution) recently awarded Innovente a 25-year electricity supply contract to produce electricity from a cogeneration plant with a 4.6 MW capacity to be built in Saint-Patrice-de-Beaurivage (Québec). Innovente's strategic vision lies upon developing power stations throughout regions in Québec, in Canada and across the world.

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Innovente to be materially different from any results, performance or achievements expressed or implied by the said forward-looking statements.

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