LAURENT VENTURE CAPITAL CORPORATION
TSX VENTURE : LAU.P

LAURENT VENTURE CAPITAL CORPORATION

June 17, 2009 08:00 ET

Update of the Qualifying Transaction Between Laurent and Carbon2Green

MONTREAL, QUEBEC--(Marketwire - June 17, 2009) - Carbon2Green Developments Ltd. ("Carbon2Green") and Laurent Venture Capital Corporation (the "Corporation")(TSX VENTURE:LAU.P) have announced their intent to proceed with a qualifying transaction by means of a reverse takeover (the "Qualifying Transaction") as well as the resumed and the maintenance trading of the Corporation's shares on last May 8.

In order to achieve its development objectives, Carbon2Green's management have improved its projects and identified additional business partners and thus faced certain delays requiring an additional extension of the period the Corporation disposed of, following the public announcement of the Agreement in Principle, for its initial filing required under paragraph 12.3 of Policy 2.4 of the TSX Venture Exchange (the "TSX Venture") Corporate Finance Manual. Wishing to maintain its request to conclude the Qualifying Transaction with Carbon2Green, the Corporation obtained authorization from the TSX Venture to extend the filing date of initial documents to July 6, 2009, the whole, while maintaining the trading of its shares.

Moreover, the Corporation is proud to announce it has received commitments to subscribe which reach the minimum financing of $1.25 million (the "Financing"). The terms and conditions of the Financing foresee that each unit is to be issued at $0.35 per unit (rather than $0.50 per unit). Each unit will consist of one common share at a price of $0.349 and one common share purchase warrant at a price of $0.001; each purchase warrant entitling its holder to acquire one common share at a price of $0.50 (rather than $0.75) and such, for a period of two years.

The completion of the Qualifying Transaction and Financing is conditional, namely, to conditional consent from the TSX Venture and, if necessary pursuant to TSX Venture requirements, the approval of the majority of minority shareholders.

The TSX Venture and its regulation services provider (within the meaning of this term found in the policies of the TSX Venture) has in no way passed upon the merits of the proposed Qualifying Transaction and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Laurent Venture Capital Corporation
    Andre Goguen
    President
    450-681-7744
    or
    Carbon2Green Developments Ltd.Louis Tourillon
    Louis Tourillon
    President
    450-786-8990