TSX - V: CNP
SOREL-TRACY, QC, June 4 /CNW Telbec/ - Conporec Inc. ("Conporec" or the
"Company") (TSX Venture Exchange: CNP) is planning to purchase the land and
buildings of the La Prade Industrial Park in Bécancour (Québec, Canada). The
Company plans to transform these vacant facilities into an industrial centre
focussing on environmental technologies applications.
The $2.6M transaction will include cash, the issuance of 500,000 new
Company shares to the seller, and the remaining amount secured through a joint
guarantee from Congébec Capital Ltd. Conporec acquired in March 2007 the
purchase option held by Congébec Capital Ltd. since July 2006. Conporec paid
Congébec Capital Ltd. $270,000 as compensation for the incurred fees and risks
of this transaction. Mr. Laurier Pedneault is Congébec Capital Ltd.'s
President and also Chairman of Conporec' Board of Directors.
The transaction is conditional to the approval of regulatory authorities
and should be made operational in the coming days.
Conporec Inc. develops and operates various patented composting and
sorting technologies for the treatment and recycling of municipal solid waste.
These technologies reduce the need for landfill disposal by treating 100% of
the organic content and achieving a beneficiation rate of 75% of the original
waste mass. These technologies help reduce greenhouse gases. Conporec
successfully operates a sorting-composting plant in Sorel-Tracy, Quebec, and
recently delivered a second facility in New York State (United States). A
third facility is currently under construction in a suburb of Paris (France)
and a fourth will soon be underway near Perth, Australia. Through Biomax Inc.,
the Company has also delivered about thirty different composting facilities
that can produce more than 300,000 tonnes of compost annually. Conporec is a
socially responsible organization listed on the TSX Venture Exchange.
Forward-looking statements contained in this press release involve known
and unknown risks, uncertainties or other factors that may cause actual
results, performance or achievements of the company to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements.
The TSX Venture Exchange has not approved the information contained
herein and accepts no responsibility for it, nor the validity of the
For further information:
For further information: Jean Beaudoin, President and CEO, Conporec
Inc., (450) 746-9996, (418) 527-9996; Frédéric Bérard, HKDP Communications and
Public Affairs, (514) 395-0375, ext. 230; Source: Conporec Inc.,