TSX-V: CST
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.