VANCOUVER, July 16 /CNW/ - Carbon Friendly Solutions Inc. (TSX Venture Exchange: CFQ) ("CFS" or the "Company") is pleased to announce that it has recently entered into a management consulting agreement (the "Consulting Agreement") with Phoenix Alliance Corp. ("Phoenix") of Surrey, British Columbia. Phoenix, a business consulting and merchant banking firm, has been retained to provide management consulting services, as well as Public Relations & Investor Relations services (the "Services") designed to assist Carbon Friendly with its M&A strategy in order to expand the Company's project portfolio within the growing clean-tech industry.
Phoenix is engaged to perform an analysis and subsequent due diligence relating to a potential acquisition by Carbon Friendly of one of the world's leading clean coal technologies. Phoenix will also assist in the strategic and financial planning of the proposed M&A transaction, and in securing the necessary financing for Carbon Friendly as required for this strategy ("required Financings"). As consideration for providing the Services, the Company has agreed to pay Phoenix a monthly fee of $20,000 (the "Retainer"), as well as additional payments in proportion to the proceeds of required Financings.
Carbon Friendly has also entered into a finder's fee agreement with Phoenix (the "Finder's Fee Agreement"). Pursuant to the Finder's Fee Agreement and in accordance with the TSX policies, Carbon Friendly has agreed to pay Phoenix a cash fee equal to 5% of the value of the subscriptions paid by investors, in the required Financings, who were introduced to the Company by Phoenix (the "Finder's Fee"). The Finder's Fee will be reduced by any additional broker's or finder's fees paid by Carbon Friendly in respect of the applicable required Financings.
Carbon Friendly Solutions Inc.
Carbon Friendly Solutions Inc. ("CFS") provides solutions and products for companies, organizations and individuals looking to reduce or offset their global warming impact caused by greenhouse gas ("GHG") emissions, while including the generation of carbon credits for sale in the global Voluntary and Compliance markets. Through its subsidiaries, Global CO2 Reduction Inc., CO2 Reduction Poland Sp. z o.o. and Pacific Briquetter's Inc., CFS is focusing on removing and offsetting GHG emissions from the development of reforestation projects, biomass energy products and renewable energy technology projects that are independently validated and verified to globally recognized standards and methodologies. Website address www.carbonfriendly.com
On behalf of the Board of Directors
Carbon Friendly Solutions Inc.
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. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE MicroCoal Technologies Inc.
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