Carbon2Green Corporation: Financing Through a Convertible Debentures of a Maximum of $ 300,000
August 27 2010 - 1:49PM
Marketwired
Carbon2Green Corporation ("Carbon2Green" or the "Corporation")(TSX
VENTURE: CGN) announces today its intention to finalize, in the
next few days, and subject to the conditions further described
herein, a financing of a maximum of $ 300,000 through convertible
debentures in class "A" common shares of the Corporation (the
"Common Shares").
The convertible debentures to be issued will have a term of 24
months, bearing an interest rate of 14% per annum and payable
annually at the anniversary date of the execution of the
convertible debenture. The capital and interest on said debentures
will be convertible at a price of $0.25 per Common Share. A maximum
number of 1,200,000 Common Shares of the Corporation will be
reserved with the TSX Venture Exchange in order to guaranty the
conversion right of its holders. Subject to the TSX Venture
Exchange's approval, the funds are intended to provide adequate
working capital to the Corporation and to support the viability of
any projects that may arise. The management of the Corporation
intends to complete the financing prior to the end of this
month.
About Carbon2Green (www.carbon2green.ca)
Carbon2Green Corporation is a carbon project developer dedicated
to the international effort to reduce greenhouse gases. Its main
business activities are under the Clean Development Mechanism
(CDM), an arrangement under the Kyoto Protocol monitored by the
United Nations Framework Convention on Climate Change (UNFCCC). The
first business initiative of Carbon2Green is the implementation of
the plantation of 14,000 ha of jatropha and the production of
biofuel from such jatropha plantations as replacement for fossil
derived diesel.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as the term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Louis Tourillon, President & CEO Carbon2Green
Corporation 450-786-8990 extension 1001 info@carbon2green.ca
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