MONTREAL, April 7 /CNW Telbec/ - Sofame Technologies Inc. (TSX-V: SDW), a
leading manufacturer of energy efficient commercial-industrial hot water
heating and waste heat recovery equipment, has engaged Stone Communication
Services Limited ("SCS") to provide investor relations services.
SCS is a wholly-owned subsidiary of Stone Investment Group Limited
("SIG"). Headquartered in Toronto, SCS's core competency is the execution of
tailored, strategic communication programs. SCS was launched in 2006 as the
in-house investor relations arm of SIG, and has grown into a standalone
business offering a full complement of Investor Relations services to emerging
companies in the Canadian marketplace.
Brian Edelstein of SCS said, "Sofame, with 25 years of history and over
300 major projects installed, is ready to reach out to the investment
community across Canada to garner support for its proven technology. Sofame is
a unique emerging cleantech company which significantly reduces industrial
energy costs. The potential for Sofame to expand market reach beyond its home
turf in Quebec and Canada is what impressed SCS."
The agreement between Sofame and SCS is established for 12 months at
$3,000 per month for a total of $36,000. Sofame also granted stock options to
purchase 350,000 common shares at an exercise price of $0.205. The options
will expire on the earlier of April 3, 2013 or 30 days after the service
agreement terminates. The options vest on a quarterly basis over a 12-month
period and are subject to the approval of TSX Venture Exchange.
Extension of Certain Warrants
Subject to regulatory approval, Sofame will extend the term of:
(i) 2,749,989 warrants by three years, that is, from December 10, 2009 to
December 10, 2012; 2,443,090 warrants by three years, that is, from
December 21, 2009 to December 21, 2012; and 583,331 warrants by three
years, that is, from December 28, 2009 to December 28, 2012
(collectively, the "December 2007 Warrants"); and
(iii) 3,580,566 warrants by four years, that is, from April 9, 2009 to
April 12, 2013 (the "2008 Warrants").
The December 2007 Warrants, exercisable at a price per share of $0.25,
were issued by Sofame pursuant to a private placement of convertible
debentures which closed in three separate tranches on December 10, 2007,
December 21, 2007 and December 28, 2007 (see press releases dated December 13,
2007, December 24, 2007 and December 31, 2007). The original expiry dates of
the December 2007 Warrants were December 10, 2009, December 21, 2009 and
December 28, 2009. The 2008 Warrants, exercisable at a price per share of
$0.50, were issued by Sofame pursuant to a private placement of units which
closed on April 9, 2008 (see press release dated April 11, 2008). The original
expiry date of the 2008 Warrants was April 9, 2009. All of the other terms and
conditions of the foregoing warrants remain unchanged.
Issuance of Additional Warrants to Existing Warrantholders
Sofame would also like to give an incentive to the holders of all of its
currently issued and outstanding warrants, including the December 2007
Warrants and the 2008 Warrants (collectively, the "Warrantholders") to
exercise their warrants, even though the exercise price may be higher than the
current market price of Sofame's common shares. Sofame will issue one
additional common share purchase warrant (collectively, the "Additional
Warrants") for every issued and outstanding warrant exercised prior to May 15,
2009. Each Additional Warrant will entitle the holder to acquire one
additional common share of Sofame at a price of $0.20 per share for a period
of five years from the date of issuance. The Additional Warrants will only be
issued to those Warrant holders choosing to exercise their existing warrants
by the May 15, 2009 deadline. The Additional Warrants will be subject to a
four-month hold period.
SOFAME Technologies Inc. custom engineers and manufactures unique,
high-efficiency direct-contact heat recovery and hot water heating systems.
Sofame's products extract up to 99% of heat from flue gases depending on the
application, and also from wastewater, and return the energy in the form of
high temperature hot water or pre-heated make-up air. In addition to
economically recovering heat from waste energy, Sofame's products also help
customers significantly reduce greenhouse gas and NOX emissions and qualify
for carbon offsets and CDM credits. Using world leading, patented green
technology, Sofame serves building owners, institutional, industrial and
commercial markets through a network of dedicated engineering representatives.
Neither 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.
For further information:
For further information: Sofame Investor Relations: Kelly Hamblin, (514)
523-6545 ext. 630, email@example.com; Fax: (514) 524-6183,
www.sofame.com; Stone Communication Services: Brian Edelstein, (416) 867-2536,
firstname.lastname@example.org, (416) 364-9188, Fax: (416) 364-8456, www.stoneco.com