MONTREAL, Oct. 1, 2013 /CNW Telbec/ - The Caisse de dépôt et placement
du Québec ("Caisse") announced that, under the terms of a subscription agreement, it has
subscribed for 1,818,182 units of Innovente inc. (TSXV: IGE) ("Innovente" or the "Corporation").
Innovente is a Québec company that has developed green and sustainable
technology to transform organic waste into electricity and heat. In
addition to having announced recently its plans to build plants in
Trois-Rivières and Matane, the company also has a plant located in
Each unit, at a price of CA $0.55, consists of one common share in the
share capital of the Corporation ("Common share") and one common share
purchase warrant ("Warrant") of the Corporation.
Each Warrant gives the right to acquire one additional Common share of
Innovente at an exercise price of $0.70 per common share at any time
until September 30, 2016.
The subscription was made through a private placement under the
accredited investor exemption provided by applicable securities
Prior to this transaction, the Caisse held 4,050,000 common shares of
Taking into account the potential exercise of Warrants for Common
shares, the Caisse could hold a total of 7,686,364 common shares of
Innovente, representing 16.68% of all such common shares issued and
outstanding on a partially diluted basis.
The Caisse may increase or decrease its interest in Innovente based on
market conditions or other relevant factors.
This news release is issued in accordance with the early warning
requirements stipulated by securities regulation, which require that
investors, including the Caisse, issue and file a news release and a
report, when they acquire beneficial ownership of securities with
voting rights that would represent, with the securities they already
hold, 10% or more of the outstanding shares of the class.
In accordance with the Early Warning System, a copy of this news release
and the report will be filed with the applicable Canadian Securities
Administrators and will be available on SEDAR's website (www.sedar.com) and from the person referred to below.
SOURCE: Caisse de dépôt et placement du Québec
For further information:
Senior Director, Media and public relations