QUÉBEC CITY, Sept. 17, 2013 /CNW Telbec/ - Innovente Inc. (TSXV: IGE) ("Innovente" or the "Corporation") announces that it has issued non-transferable warrants to Investissement Québec ("IQ") relating to the loan previously announced in the aggregate amount of $2,000,000 granted by IQ to Innoventé and as part of the first disbursement made under the terms of the loan. These warrants will entitle IQ to subscribe to up to 470,588 common shares of Innoventé at a price of $0.85 per share, proportionally with the disbursements that will be made by IQ in favour to the Corporation for a period of 36 months following each disbursement, but no later than December 1, 2018.
In addition, the Corporation has granted an aggregate of 125,000 stock options to one of its officers. Each stock option entitles the holder thereof to subscribe to one common share of the Corporation at a price of $0,55 per share and may be exercised during a period of 116 months from the grant date. Such options will vest over a period of 44 months and are governed by the stock option plan of the Corporation.
Based in Québec City, Innoventé produces renewable energy and provides communities with a green and sustainable solution for the management of organic residues through its technology patented in Canada and the United States. Innoventé's shares are listed on the TSX Venture Exchange under the symbol IGE (TSXV: IGE) innovente.ca
Caution Regarding Forward-Looking Information
Certain statements contained in this document, including those that express management's expectations or estimates regarding the Corporation's future performance, are "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information is necessarily based on a certain number of estimates and assumptions which, while considered plausible by the management when they are made, are inherently subject to significant commercial, economic and competitive risks and uncertainties. We advise investors not to rely unduly on forward-looking information. The Corporation further declines any intention or obligation to publicly update this forward-looking information, whether due to new information, or future or other events.
Neither the TSX Venture Exchange nor its regulation service provider (as these terms are defined in policies of the TSX Venture Exchange) bears responsibility for the adequacy or accuracy of this press release.
SOURCE: Innoventé Inc.
For further information:
and interview requests:
Director of Communications, Innoventé
Tel: 418 692-1011 Ext. 200