LAURENT VENTURE CAPITAL CORPORATION
TSX VENTURE : LAU.P

LAURENT VENTURE CAPITAL CORPORATION

February 13, 2009 14:27 ET

Resumption of Trading of Laurent Venture Capital Corporation's Securities Following the Announcement of the Qualifying Transaction With Carbon2Green Developments Ltd.

MONTREAL, QUEBEC--(Marketwire - Feb. 13, 2009) - Carbon2Green Developments Ltd. ("Carbon2Green"), an innovator in the field of sustainable development and the carbon market is pleased to announce that a milestone has been achieved in its goal of becoming a public corporation, namely the resumption of trading of the shares of Laurent Venture Capital Corporation ("Laurent" or the "Corporation") (TSX VENTURE:LAU.P). This resumption of trading of the shares of Laurent, which will take place on Tuesday, February 17, 2009, follows the acceptance of sponsorship by Desjardins Securities and the filing of the documents required by the TSX Venture Exchange (the "Exchange"). Carbon2Green and Laurent had announced by press release issued on November 24, 2008, that Carbon2Green intended to proceed by way of a Qualifying Transaction, namely a reverse take over transaction between the shareholders of Carbon2Green and the Corporation (the "Transaction").

FINANCIAL INFORMATION

In line with the preliminary phase of the development of the strategic business plan of Carbon2Green in Africa, the unaudited financial statements for the year ended 31 August 2008 show that Carbon2Green has raised capital in the amount of $624 000, it did not generate operating revenues, as anticipated, and reported a net loss for the same period in the amount of $525 750. For the same period, the assets of Carbon2Green were $165 860, liabilities were $67 604 and its equity was $98 256. For the 3 month period ending on November 30, 2008, and based on the financial information available and prepared by management, Carbon2Green, as anticipated in its development strategy to obtain carbon credits and the submission of CDM projects with UN authorities, has not started any income-generating activities, and has accumulated a net operating loss for the quarter of $80 457.

Completion of the Transaction is subject to a number of conditions, in particular, final acceptance by the Exchange and, if applicable pursuant to Exchange requirements, majority of the minority shareholder approval. The Exchange has in no way passed upon the merits of the proposed Transaction.

The Exchange and its regulation services provider (with the meaning of this term in the policies of the Exchange) assume no responsibility with regards to the pertinence or the exactitude of the present release.

Contact Information

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