VANCOUVER, Jan. 20 /CNW/ - Carbon Friendly Solutions Inc. (CNSX: CFQ) ("CFS" or the "Company") is pleased to announce that the amendment of the share purchase agreement in connection with the acquisition of MicroCoal Inc. ("MCI" or "MicroCoal"), as announced January 11, 2011, has been approved by the MicroCoal shareholders.

By signing the amendment, the MCI shareholders agreed to consummate the share exchange and receive 10,957,778 common shares of Carbon Friendly stock at a price of CAD$ 0.27, which equals a total of US$ 3 million (based on 1 USD = 0.9862 CAD; Bank of Canada January 17, 2010). CFS has become a majority shareholder of MCI holding 58.21% of the entire capital shares of MicroCoal. Upon closing of the entire Transaction, including the completion of a financing of CAD$ 6 mm and the payment of certain indebtedness to MicroCoal creditors, financiers or shareholders, Carbon Friendly will own 100% of MicroCoal.

Stan Lis, President and CEO of Carbon Friendly Solutions Inc stated:"Carbon Friendly is very pleased to confirm the share exchange as an important milestone in the acquisition of MicroCoal Inc. The progress of the entire transaction is succeeding as expected."

About MicroCoal Inc.

MicroCoal Inc. was incorporated in May 2005 in the State of Delaware and currently has its headquarters in Denver, CO with pilot facilities in Golden, CO. MicroCoal is a clean energy company focusing on commercializing the use of its patented technologies to decontaminate and upgrade low-rank coals to match the energy levels of high-rank coals for use by power utilities. MicroCoal's proprietary on-site process not only cleans up coal at the power plant prior to combustion by significantly reducing contaminants, but it also reduces GHG emissions and improves fuel efficiency. The reduction in emissions allows for the generation of substantial carbon credits in an industry that is one of the world's largest producers of emissions. The deployment of MCI's technology offers utilities significant economic, environmental as well as operational benefits.
Website address:

About Carbon Friendly Solutions Inc.

Carbon Friendly Solutions Inc. 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. and CO2 Reduction Poland Sp. z o.o., CFS is focusing on removing and offsetting GHG emissions from the development of reforestation projects and renewable energy technology projects that are independently validated and verified to globally recognized standards and methodologies.
Website address:

On behalf of the Board of Directors
Carbon Friendly Solutions Inc.

"Stan Lis"
President and Director

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.

SOURCE Carbon Friendly Solutions Inc.

For further information:

Contact Investor Relations
Phone: 604-676-9792

Organization Profile

Carbon Friendly Solutions Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890