TORONTO, ONTARIO--(Marketwired - Dec. 6, 2013) - Solutions4CO2 Inc. ("S4CO2" or the "Company") - (TSX VENTURE:SFC) is pleased to announce the closing of its previously announced brokered (the "Brokered Offering") and non-brokered (the "Non-Brokered Offering") private placements (together, the "Offering").
Both the Brokered Offering and the Non-Brokered Offering were oversubscribed and increased such that the Company issued an aggregate of 6,292,330 units (the "Units") at Cdn$0.30 per Unit, for gross proceeds of $1,887,699. Each Unit consists of one common share ("Unit Share") of the Company and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase one common share of the Company ("Warrant Share") at a price of Cdn$0.50 per Warrant Share until December 6, 2015. The Unit Shares, Warrants and Warrant Shares issued under the Offering are subject to a four-month hold period expiring on April 7, 2014.
AltaCorp Capital Inc. (the "Agent") was retained by the Company in connection with the Brokered Offering and was paid broker fees equal to 7% of the Brokered Offering. The Agent was also reimbursed for certain expenses and disbursements pursuant to the Offering.
The Offering was conducted in reliance upon certain prospectus and registration exemptions and is subject to the final acceptance of the TSX Venture Exchange.
About Solutions4CO2 Inc:
Solutions4CO2 is a Canadian company that develops innovative waste-gas, water, biomass to high-value co-product solutions for the nutraceutical and pharmaceutical markets using proprietary and licensed technologies under the trademarks Integrated Biogas Refinery™ ("IBR") and Bio-Extraction Process™ ("BEP"). The IBR integrates proprietary and licensed technology to process organic waste streams into high-value algae derived co-products. The BEP utilizes a liquid solvent process to extract high-value co-products from shrimp by-products.
This news release may contain forward-looking statements that are based on Solutions4CO2's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.