Conporec Inc.
TSX VENTURE : CNX

Conporec Inc.

February 27, 2008 17:00 ET

Conporec Announces its Intention to Carry Out a Private Placement

SOREL-TRACY, QUEBEC--(Marketwire - Feb. 27, 2008) - Conporec (TSX VENTURE:CNX) ("Conporec" or the "Company") announces today that the Board of Directors authorized a private placement of CAD$5 000 000 to CAD$6 000 000 or EUR 3 333 000 to EUR 4 000 000 (the "private placement"). Amsterdams Effectenkantoor B.V., a broker and asset manager based in Amsterdam, NE, already partner of Conporec, will assist the Company for the closing process of this private placement.

According to the term sheet, this private placement will be carried out at a price of CAD$1.00 per share, or EUR 0.67 per share, which corresponds to yesterday closing of the Conporec listed share price on TSX Venture Stock Exchange. A total amount between 5 000 000 and 6 000 000 of new shares will be issued to complete the private placement with an expected closing date of March 31st, 2008. The ordinary shares issued for this private placement will be subject to a detention period of four months, all in accordance with Canadian regulatory Authorities.

The proceeds from this private placement will be used to finance the current activities of the company, and to complete the construction of its source separated organics processing facility as well as to initiate the development of its environmental technologies demonstration site at Parc La Prade, Becancour (Ca). It should be reminded that this waste recovery site has all the necessary environmental approvals as well as two signed contracts which will provide annual recurring incomes of CAD$6.5 million.

"This major investment that allows the completion of our second built/own/operate facility in Quebec is in direct line with our business plan. Conporec will thus take a significant edge on its competitors with this ultramodern and performing waste recovery facility and a total processing capacity in Quebec of up to 80,000 tons per year" declared Mr. Jean Beaudoin, President and Chief Executive Officer of Conporec inc.

About Conporec

Conporec inc. develops, owns and operates various patented technologies for the treatment and the recovery of solid waste into valuable resources and energy. The company successfully delivered or is in the process of completing plants in Canada, France, United States and Australia and has also completed about thirty other installations in Canada. Conporec is a socially responsible organization listed on the Toronto Stock Exchange (Venture) and the Paris Stock Exchange (Alternext).

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

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

  • Conporec Inc.
    Jean Beaudoin
    President and chief of the direction
    450-746-9996
    www.conporec.com
    or
    HKDP Communications and public affairs
    Frederic Tremblay
    514-395-0375 - ext. 234