QUÉBEC CITY, March 2, 2012 /CNW Telbec/ - Innovente Inc. (TSX
VENTURE:IGE) announced today that it has retained the services of
Jasmin Financial Communications Inc. for the conception, implementation
and monitoring of its financial communications strategy and to support
the corporation in its management of investor relations.
The contract has an initial term of twelve (12) months and allows for
fixed monthly fees of two thousand dollars ($2,000) per month as well
as variable monthly fees of one hundred dollars ($100) per hour worked
in excess of twenty (20) hours per thirty (30) day period.
In addition, the corporation granted to Jasmin Financial Communications
Inc., in consideration of services to be rendered, thirty-five thousand
(35,000) stock options that entitle Jasmin Financial Communications
Inc. to purchase an aggregate of thirty-five thousand (35,000) common
shares of the corporation's share capital, under the conditions set
forth in the corporation's stock option plan.
In accordance with the stock option plan, each of the granted options
entitles its holder to subscribe to one common share of the corporation
at a price of $0.85 per share for a period of ten (10) years following
the date of grant of such options. The options will vest gradually over
a twelve (12) month period with twenty-five percent (25%) of the
options vesting on each of the dates which are three (3) months, six
(6) months, nine (9) months and twelve (12) months respectively,
subsequent to the date of grant.
Innovente (TSX VENTURE:IGE) produces electricity from residual biomass.
We call this intelligent electricity because it does not require fossil
fuels, nuclear fission products or disruption of the food chain. At the
heart of Innovente's technologies is a patented drying process,
developed over the last 10 years by the Research and Development
Institute for the Agri-Environment (IRDA). This biological drying
process (biodrying) allows Innovente to extract water from waste and
transform it into biofuel. In addition to intelligent electricity,
Innovente produces useful heat and fertilizers and helps reduce
greenhouse gas emissions.
Innovente's intelligent electricity is produced locally from waste and
residues in the region where it operates. Innovente is completing its
first plant in St. Patrice, Quebec. The plant will produce 4.6 MW of
electricity that will be sold to Hydro-Québec over a 25-year period
according to an existing power purchase agreement. With this first
plant, Innovente launches its growth strategy and plans to replicate
this project in Canada, the U.S. and worldwide.
About Jasmin Financial Communications Inc.
Jasmin Financial Communications Inc. is a specialised financial
communications and investor relations firm which sets itself apart
through a long-term approach based on strategic counseling and business
development activities for the benefit of its customers
Its president, Mr. Marc Jasmin, holds a professional accounting degree
and has over 15 years of experience in the securities industry, namely
as a retail broker, institutional salesperson, and as director of
investor relations services of prominent Quebec companies.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
these terms are defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Innoventé Inc.
For further information:
President Innovente Inc.
Marc Jasmin, C.M.A
Jasmin Financial Communications inc.