QUEBEC CITY, Jan. 8, 2013 /CNW Telbec/ - Innovente Inc. (TSXV: IGE)
("Innovente" or the "Company") is pleased to announce that, in the
context of its previously announced private placement of common shares
(the "Private Placement"), it has received confirmations of
subscriptions for an amount of $2,260,149.65. The common shares to be
issued as part of the Private Placement will be issued at a price of
$0.55 per common share and closing of the Private Placement is
scheduled on or about January 10, 2013, subject to customary closing
conditions. The Private Placement is conducted by National Bank
Financial Inc. acting as agent.
Innovente is also pleased to announce that it is currently in
discussions with an instutitional lender regarding a potential debt
financing for an aggregate amount of $2,000,000. The net proceeds from
such financing, with those of the Private Placement, will be used by
Innovente to complete the construction of the
Saint-Patrice-de-Beaurivage project, to fund its working capital and
for general corporate purposes.
Innovente also wishes to congratulate Mr. Jacques Gauthier, who has
served as a director of Innovente since 2011, on his appointment as a
member of the National Energy Board. That appointment required Mr.
Gauthier to resign from the Board of Directors of the Company. However,
despite his resignation from the Board of Directors, Mr. Gauthier has
agreed to pursue his mandate in providing support to the project team
of the Company in connection with the commercial operation of the
Saint-Patrice-de-Beaurivage plant.
This press release shall not constitute an offer to sell or the
sollicitation of an offer to buy securities in the United States, or
for the account or benefit of U.S. persons (as such term is defined in
Regulation S under the United States Securities Act of 1933, as
amended).
About Innovente
Based in Quebec City, Innovente produces renewable energy and provides
communities with a green and sustainable solution for the management of
residual organic matter. Innovente stock is listed on the TSX Venture
Exchange under the ticker symbol IGE (TSXV: IGE). www.innovente.ca
Disclaimer regarding forward-looking statements
Certain statements included herein, including those that express
management's expectations or estimates of the Company's future
performance, constitute "forward-looking statements" within the meaning
of applicable securities laws. Forward-looking statements are
necessarily based on a number of estimates and assumptions that, while
considered reasonable by management when they are made, are inherently
subject to significant business, economic, and competitive
uncertainties and contingencies. Investors are cautioned not to place
undue reliance on forward-looking statements. The Company disclaims any
intent or obligation to update publicly these forward-looking
statements, whether as a result of new information, future events or
other development.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
these terms are defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this press
release.
SOURCE: Innoventé Inc.
