Conporec Inc. has announced its merger with SLC Capital Inc. (TSX Venture Exchange: SLC.P). The company resulting from the merger will continue to operate under the name Conporec Inc. and offer integrated solutions for solid waste management based on a patented composting technology. Its common shares will be listed on the TSX Venture Exchange in the coming weeks, subject to final approval by the TSX Venture Exchange Inc.
"This merger of SLC Capital Inc. and Conporec Inc. allows us to focus all the company’s resources on achieving the goals laid out in our business plan," declared Mr. Jean Beaudoin, Chief Executive Officer of Conporec Inc.
Prior to the merger, and in two stages over the recent months, Conporec Inc. closed a private placement of $5,000,100. Subscribers to the private placement received close to 12 million Conporec Inc. shares (on a converted basis) at a price of $0.43 per share, as well as the same number of warrants. Each warrant allows its holder to purchase one share of the new company at a price of $0.57 in the 24 months following the merger.
"This placement speaks to the confidence investors have in our technology and our projects, and I would like to thank all those who participated," said Mr. Beaudoin. Pursuant to the merger, the new company’s capital stock will include close to 49 million common shares issued and outstanding.
Following the merger, shareholders of Conporec Inc. elected a Board of Directors that reflects the dynamic and rigorous approach of the new company. It is chaired by Laurier Pedneault, President and CEO of Congbec Capital Ltd and includes:
Paul Picard, Senior Vice-President, Energy and Environment, Roche Ltd., Consulting Group
Jeff Heath, Executive Director, Stearns & Wheler Services Inc.
Germain Carrire, Executive Vice-President, Strategy, National Bank Financial Inc.
Andr Gaumond, President and Chief Executive Officer, Virginia Gold Mines Inc.
Claude St-Jacques, President of mining company Vior Inc.
Jean Beaudoin, MPA, Chief Executive Officer of Conporec Inc.
Specialized in the municipal solid waste (MSW) sector, Conporec Inc. is a socially responsible organization whose ultimate goal is to eliminate the need to use landfills for the disposal of domestic waste. From its facility in Sorel-Tracy, Quebec, Conporec Inc. has developed and refined a patented composting technology that can reclaim 75 per cent of municipal solid waste. The resulting compost, which contains a high level of organic matter, is then sold to market. Conporec Inc. can build, own and operate such facilities anywhere in the world.
Source: Conporec Inc., www.conporec.com
Contact Mr. Jean Beaudoin, Chief Executive Officer, 450-449-9949