QUEBEC CITY, Oct. 20 /PRNewswire-FirstCall/ -
Outstanding shares: 60,261,136
CO2 Solution Inc. ("CO2 Solution" or the "Company") announces that the Company has renewed its current shareholder rights plan which is due to expire on November 24, 2010.
The Company has had a shareholder rights plan in place since 2007 (the "2007 Plan"). The 2010 shareholder rights plan (the "2010 Plan") maintains the protection afforded to shareholders under the 2007 Plan and was not adopted in response to any anticipated take-over bid. The 2010 plan is substantially similar to the 2007 plan and to plans recently adopted by other Canadian companies and approved by their shareholders.
The 2010 Plan will be effective on November 24, 2010, or earlier if certain events under the 2007 Plan were to occur. The 2010 Plan has been approved by the TSX Venture Exchange on October 19, 2010, and will be submitted to shareholders of the Company for approval at CO2 Solution's Annual and Special meeting of Shareholders to be held on November 24, 2010. A complete copy of the 2010 plan and a material change report in connection therewith will be filed on sedar.com.
In addition, on September 30, 2010, the Board of Directors of the Company approved certain modifications to the Stock Option Plan of the Company (the "Stock Option Plan") to increase the number of common shares of the Company reserved for issuance under the Stock Option Plan from 5,026,114 to 6,026,113. The modifications to the Stock Option Plan have been approved by the TSX Venture Exchange on October 6, 2010.
About CO2 Solution
Based in Quebec City, CO2 Solution Inc. has developed a proprietary bio-technological platform for the efficient capture of carbon dioxide (CO2), the most important greenhouse gas (GHG), from power plants and other large stationary sources of emissions. The Company's technology platform exploits the natural power of a bio-catalyst (enzyme), carbonic anhydrase, which functions within humans and other mammals to manage CO2 during respiration. CO2 Solution has successfully adapted the enzyme to function within an industrial environment, and thus has taken advantage of a biomimetic approach to CO2 capture based on millions of years of evolution. The Company is commercializing its technology for coal fired power generation, the oil sands and other CO2-intensive industries where a low-cost capture solution is key to meeting climate change legislation in a cost effective manner.
CO2 Solution's technology platform is protected by several North American and European patents, including the use of carbonic anhydrase for CO2 capture and release in a packed column system. News releases and additional information can be found at www.co2solution.com.
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 SOLUTION INC.