Election of CO2 Solutions' Board of Directors
Corporation receives shareholder approval for name change to CO2 Solutions Inc.
Outstanding shares: 79,187,836
QUEBEC CITY, Nov. 24, 2011 /CNW Telbec/ - CO2 Solutions Inc. ("CO2 Solutions" or the "Corporation") is pleased to announce that yesterday
it held the Annual General and Special Meeting of the shareholders of
the Corporation at the Pavillon La Laurentienne - Auditorium Jean-Paul
Tardif, at Laval University in Québec City (the "Meeting").
Shareholders re-elected the following directors to the Corporation's
Board of Directors: Evan Price, Chairman of the Board; Glenn R. Kelly,
President and Chief Executive Officer; Robert Manherz, Principal,
Dundurn Capital Partners Inc.; Kimberley Okell, Vice President, Legal
Affairs and Assistant Corporate Secretary, Vision 7 International ULC;
Martin P. Pelletier, Administrator; Jocelyn Proteau, Administrator;
Alan Shaw, Ph.D., President and Chief Executive Officer, Codexis, Inc.
PricewaterhouseCoopers LLP, Chartered Accountants, was appointed as
auditors of the Corporation for the fiscal year ending June 30, 2012.
"2011 was a year of strong growth and of important milestones for CO2 Solutions", commented Glenn Kelly, President and Chief Executive
Officer of CO2 Solutions. "It was, once again, a record setting year in terms of
commercial and technical progress that built upon the very significant
achievements of 2010. We are fortunate to have such a distinctive and
experienced group of individuals serving on our Board of Directors and
we are grateful for their continued support and counsel".
The Corporation is also pleased to announce that at the Meeting the
shareholders adopted a special resolution to amend the articles of the
Corporation to change the name of the Corporation from "CO2 Solution"
to "CO2 Solutions" and that the articles of the Corporation have
therefore been amended to effect such change of name. "We believe that
the use of the word 'Solutions' in our company name better reflects the
larger focus on multiple solutions our company has to offer for the
capture of carbon dioxide in multiple industry settings" said Mr.
Kelly, "and the name change also reflects the fact that, at large, many
users, providers, investors and others already use the word Solutions
when using our company name".
In accordance with its stock option compensation plan approved by the
Board of Directors, subject to regulatory approval, the Corporation
granted yesterday a total of 872,790 stock options to its officers and
directors. Each stock option allows the holder thereof to subscribe to
one common share of CO2 Solutions Inc. on or before November 23, 2016, at a price of $0.21 per
share, which price corresponds to the closing price of the shares of CO2 Solutions Inc. on the last trading day preceding the grant of the stock
CO2 Solutions AGM was broadcast live via a public Webcast. For those
interested in listening to a re-play of that webcast, please visit "www.newswire.ca/en/webcast/viewEvent.cgi?eventID=3690720".
About CO2 Solutions
CO2 Solutions is an innovator in the field of enzyme-enabled carbon capture
and has been actively working to develop and commercialize the
technology for power plants and other large stationary sources of
carbon pollution. In the process, CO2 Solutions has built an extensive patent portfolio covering the use of
carbonic anhydrase, or analogues thereof, for the efficient
post‐combustion capture of carbon dioxide with low‐energy aqueous
solvents. Further information about CO2 Solutions can be found at www.co2solution.com.
CO2 Solutions Forward-looking Statements
Certain statements in this news release may be forward-looking. These
statements relate to future events or CO2 Solutions' future economic performance and reflect the current
assumptions and expectations of management. Certain unknown factors may
affect the events, economic performance and results of operation
described herein. CO2 Solutions undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under applicable
Neither the 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.
SOURCE CO2 SOLUTION INC.
For further information:
Investor Relations and Media Contact:
418-842-3456, ext. 223