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Solutions4CO2 Inc. Completes Issuance of Shares to Certain Employees and Announces Option Grant to an Officer
By: Marketwired .
Jan. 25, 2013 04:45 PM
TORONTO, ONTARIO -- (Marketwire) -- 01/25/13 -- Solutions4CO2 Inc. ("SFC" or the "Company") (TSX VENTURE:SFC) announces that it has issued shares to some of its non-insider employees as previously announced on January 21, 2013. The issuance ("Issuance") of common shares (the "Shares") was in lieu of cash payments of $107,800, representing those employees' 2012 variable compensation awards. A total of 718,666 Shares have been issued from treasury at a deemed price of $0.15 each. The issued and outstanding Shares after the Issuance is 35,651,343.
The Shares issued are not subject to any hold period as the Company completed the Issuance in reliance upon certain prospectus and registration exemptions for employees.
The Company further announced that it has granted stock options to acquire an aggregate of 262,800 common shares to an officer of the Company under SFC's stock option plan. Each option granted to the officer is exercisable for a ten year period to acquire one common share at a price of $0.15 per share. The options are 100% vested.
Solutions4CO2 is a Canadian company that develops innovative waste-gas, water, biomass to high-value co-product solutions using proprietary and licensed technologies under the trademarks Integrated Biogas Refinery(TM) ("IBR") and Bio-Extraction Process(TM) ("BEP"). The IBR integrates best in class technologies to convert various organic waste streams into high-value algae co-products. The BEP utilizes supercritical CO2 fluid extraction to extract and fractionate high-value co-products from shrimp by-products. Solution4CO2's business model allows the company to participate in joint-venture projects with partners across the waste-to-high-value co-product value chain, or sell projects on a design, build, operate and maintain basis.
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.
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