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QUEBEC CITY, July 28, 2015 /CNW Telbec/ - CO2 Solutions Inc. ("CO2 Solutions" or the "Corporation") (TSXV: CST), the leader in the field of enzyme-enabled carbon capture technology, today announced the completion of the exploratory phase of its Chinese market initiative which had been undertaken with the assistance of Ercel Baker Inc.
Ercel Baker, principal of Ercel Baker Inc., was formerly an Executive Director of Staffing Programs at the Public Services Commission of Canada and during his tenure worked for many years with relevant Ministries and Commissions of the People's Republic of China, advising and assisting in the reform of the Chinese civil service. Ercel Baker Inc. is a company that advises and assists North American organizations in exploring potential entry into the Chinese markets.
"The Chinese market for carbon capture has enormous potential, as was confirmed by Mr. Baker's work done on behalf of our Corporation, as well as in a series of face to face meetings we had with Chinese government officials, industrialists and other potential stakeholders," stated Evan Price, President and CEO of CO2 Solutions. "Our exploration of this market has built awareness of our company in China and positioned us for the future. We believe we can potentially exploit, in the mid-term, some of the opportunities presented to us through the work undertaken by Ercel Baker Inc."
As partial payment for the services rendered by Ercel Baker Inc. to CO2 Solutions for market development in the People's Republic of China, CO2 Solutions will issue to Ercel Baker Inc., subject to TSX-V approval, 400,000 common shares in the capital of CO2 Solutions (the "Common Shares") at a deemed issuance price of $0.25 per Common Share, for a total consideration of $100,000. The Common Shares will be subject to a statutory four month hold period until November 28, 2015.
About CO2 Solutions Inc.
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 stationary sources of carbon pollution. CO2 Solutions' technology lowers the cost barrier to Carbon Capture, Sequestration and Utilization (CCSU), 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 lowenergy 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 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 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: Thom Skinner, 418-842-3456, ext. 223, [email protected], www.co2solutions.com; or National Equicom: Marc Lakmaaker, 416-815-0700, ext. 248, [email protected]