VANCOUVER, June 21, 2011 /CNW/ - Carbon Friendly Solutions Inc. (CNSX: CFQ) ("CFS" or the "Company") is pleased to announce a financing of up to
$2,000,000 by way of non-brokered private placement (the "Offering").
The Offering is expected to consist of the issuance of up to 5,000,000
units (the "Units") of the Company, at a proposed subscription price of
$0.20 per Unit. Each Unit will consist of one common share and one
common share purchase warrant (the "Warrant"). Each Warrant will
entitle the holder thereof to purchase one common share of the Company
(one "Common Share") at an exercise price of $0.35 per Common Share for
a period of two years following the closing of the Offering.
Various members of the board and management have indicated their
intention to subscribe for Common Shares in the Offering, which will be
set-out in a material change report filed on SEDAR once known.
Finders' fees may be paid in accordance with CNSX policies. Proceeds of
the Offering will be used by the Company for general working capital.
About Carbon Friendly Solutions Inc.
Carbon Friendly Solutions Inc., through its subsidiaries, is focused on
the development of clean energy technology, renewable energy and
reforestation projects. MicroCoal Inc. (Denver, CO, USA) is a leading clean energy company focused on
commercializing the use of its patented technologies to decontaminate
and upgrade low-rank coals to match the energy levels of high-rank
coals, for use by power utilities. Carbiopel - Eco Stream S.A. (Lezajsk, Poland) is an operating biomass producer in Poland and part
of a rapidly growing renewable energy market in The European Union. CO2 Reduction Poland Sp. z o.o (Warsaw, Poland), through cooperative action with several private land
owners, is implementing an afforestation project in Poland to restore
forest cover on disused agricultural land which will lead to the
generation of carbon credits for sale in the global Voluntary market. Global CO2 Reduction Inc. (Vancouver, BC) is a holding company for CFS subsidiaries in Europe.
On behalf of the Board of Directors
Carbon Friendly Solutions Inc.
President and Director
Certain statements included in this News Release contain forward-looking
statements, including disclosure concerning possible or assumed future
results of operations of the Company. Forward-looking statements
typically are preceded by, followed by or include the words -
"believes", "expects", "anticipates", "estimates", "intends", "plans",
or similar expressions. Forward-looking statements are not guarantees
of future performance. They involve risks, uncertainties and
assumptions, and the Company's results could differ materially from
those anticipated in these forward-looking statements.
We seek safe harbor.
SOURCE Carbon Friendly Solutions Inc.
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