Capital Desbog inc.
TSX VENTURE : HES.P

September 09, 2005 10:11 ET

Filing of Capital Desbog Inc.'s Final Prospectus in connection with its Qualifying Transaction with HLT Energies Inc.

MONTREAL, QUEBEC--(CCNMatthews - Sept. 8, 2005) - Capital Desbog Inc. ("Desbog"), a Capital Pool Company (TSX VENTURE:HES.P) and HLT Energies Inc. ("HLT") are proud to announce that, on August 31, 2005, they received a receipt for their Final Prospectus dated August 29, 2005 with regards to a Minimum Offering of 2,500,000 Units and a Maximum Offering of 7,000,000 Units at a price of $0.50 per Unit for minimum gross proceeds of $1,250,000 and maximum gross proceeds of $3,500,000. Each Unit consists of one common share in the capital of Desbog and one half common share purchase warrant. One whole warrant entitles the holder to purchase one common share at a price of $0.70 per share for the period of 12 months from the closing date of the offering and at a price of $0.85 per share for the period following the 12th month up to the 24th month after the closing date.

The offering is made in connection with the acquisition by Desbog of all of HLT's issued and outstanding shares under a Qualifying Transaction, namely a combination of the two corporations, as defined in Policy 2.4 of the TSX Venture Exchange.

The net proceeds of the offering will be used to pay, amongst others, the operating expenses and the development and sale of solar thermal energy and the repayment of HLT's debts.

Following the Qualifying Transaction, Desbog will change its corporate name to "HLT Energies 2005 Inc." and will take over HLT's activities so that they constitute Desbog's entire operations.

HLT's mission is to produce and sell renewable energy and, as such, it commenced its activities by focusing on selling solar thermal energy to institutional, multi-unit residential, commercial and industrial clients.

HLT currently sells solar thermal energy to one multi-unit residential building owner in order to heat domestic hot water and received its first revenues in April 2005.

HLT is pleased to announce the acceptance by the Canadian Intellectual Property Office of its Canadian patent application, which aims to protect the design and manufacturing method of the solar fins, a fundamental component of the solar thermal collector absorber that transforms solar energy into usable thermal energy.

Desbog's Final Prospectus is available for consultation on SEDAR's website at www.sedar.com.

The TSX Venture Exchange has neither approved nor disapproved the content of this press release .

Contact Information

  • Capital Desbog Inc.
    Jean La Couture
    President and director
    (514) 282-2207
    or
    HLT Energies Inc.
    Gerald Desourdy
    President
    (514) 868-1111 ext.222