VANCOUVER, British Columbia--(BUSINESS WIRE)--Carbon Friendly Solutions Inc. (CNSX: CFQ) (the “Company” or “Carbon Friendly”) is pleased to announce that it has arranged for financing by way of a non-brokered private placement of up to 5,000,000 units (the “Units”) at a price of CAD$1.00 per Unit, for gross proceeds of up to CAD$5,000,000 (the “Private Placement”).
Each Unit is comprised of one common share of the Company and one common share purchase warrant (the “Warrant”). Each Warrant entitles the holder thereof to purchase (1) one common share of the Company at an exercise price of CAD$1.25 per common share for a period of (2) two years from the closing date of the Private Placement.
The Company intends to use the proceeds from the Private Placement to deploy commercial installations of MicroCoal Technology™ and to use the balance for working capital.
Slawek Smulewicz, CEO and Director of the Company, states: “The Private Placement funds will establish the Company as a major player in the clean coal industry. The growing demand for coal as an energy source will increase the requirement for the patented MicroCoal Technology.”
About Carbon Friendly Solutions Inc.:
Carbon Friendly
Solutions Inc., through its subsidiaries, is focused on the
development of energy efficiency technology, renewable energy, and
reforestation projects that have the potential to generate significant
revenue. MicroCoal Inc. has an internationally patented
technology that is expected to improve coal-fired utilities’ economic
performance by reducing input costs, improving operations and
simultaneously reducing their environmental footprint. Global CO2
Reduction generates Carbon Offsets from forestry projects that may
be transacted through international voluntary markets. Carbiopel S.A. aggregates
biomass supply and produces biomass fuel pellets for the European
market, including large European utilities and independent renewable
energy providers, in line with EU renewable energy directives.
On behalf of the Board of Directors
Carbon Friendly Solutions Inc.
“Slawek Smulewicz”
CEO and Director
Forward Looking Statements
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. Neither CNSX nor its Regulation
Services Provider (as that term is defined in the policies of the CNSX)
accepts responsibility for the adequacy or accuracy of the release.
We seek safe harbor.
Please contact:
Slawek Smulewicz
CEO and Director,
Carbon
Friendly Solutions Inc.
Telephone: (604) 676 9792
E-mail:
info@carbonfriendly.com