QUEBEC CITY, April 1, 2019 /CNW Telbec/ - CO2 Solutions Inc. (TSX-V: CST) ("CO2 Solutions" or the "'Corporation") announced today that its Board of Directors has appointed a special committee (the "Special Committee") to review all strategic alternatives that may be open to the Corporation. The Special Committee is composed of independent members of the Corporation's Board of Directors, namely Kimberley Okell, Jocelyn Proteau and Glenn Kelly, the latter acting as Chairman of the Special Committee. In connection with this review process, the Corporation has retained the services of Langlois lawyers and Ernst & Young to act as its advisors.
There are no assurances that the strategic review process will lead to any outcome.
In order to give time for the Special Committee's review, the Corporation will immediately curtail its operating activities until the Corporation's financial situation allows for their resumption. The Corporation will make further updates accordingly at such time as the Special Committee approves a definitive strategic alternative, or otherwise determines that further disclosure on the review process is appropriate.
About CO2 Solutions Inc.
CO2 Solutions is a Canadian Corporation and leading innovator in the field of enzyme-enabled carbon capture and has been actively working to develop and commercialize the technology for stationary sources of carbon pollution. CO2 Solutions' technology lowers the cost barrier to Carbon Capture, Utilization and Sequestration and (CCUS), positioning it as a viable CO2 mitigation tool, as well as enabling industry to derive profitable new products from these emissions. 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 can be found at www.co2solutions.com.
CO2 Solutions Forward-looking Statements
Certain statements in this news release may be forward-looking. These statements relate to future events and reflect the current assumptions and expectations of management. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "predicts", "potential", "targeted", "plans", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved.
Factors that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, (i) the outcome of the review process of all strategic alternatives available to the Corporation, (ii) the ability of the Corporation to secure additional funds, (iii) general business and economic uncertainties, (iv) third party events and adverse market conditions, (v) the adequacy of the Corporation's available cash resources and (vi) those risks set out in the Corporation's public documents filed on SEDAR. The Corporation's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made. Consequently, all forward-looking statements made in this news release involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements.
Readers are cautioned not to place undue reliance on such forward-looking statements. 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 law.
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 Solutions Inc.
For further information: Investor Relations and Media Contact: CO2 Solutions, Jeremie Lavoie ,418-842-3456, ext. 223, [email protected]