Sorel-Tracy, November 29, 2007 - Conporec Inc. ("Conporec" or the "Corporation") announces that, effective November 29, 2007, it has completed articles of incorporation the consolidation of its common share on the basis of 10 currently issued and outstanding shares for 1 new common share (the ''Consolidation''). This Consolidation was approved by the shareholders of Conporec at its annual general and special meeting held on June 12, 2007. During the next days, the shareholders will receive a notice from the transfer agent, CIBC MellonTrust Company, describing the information required to exchange their common sharescertificates and their warrant certificates following the consolidation. The new shares will be traded on the TSX Ventures Exchange inc. (the ''TSX Venture Exchange"), under the ticker symbol CNX. Following this Consolidation, the Corporation will retain its name.
Moreover, the warrants currently issued and outstanding will be adjusted automatically, according to the terms and conditions of the Warrants Agreement, as at the effective date of Consolidation to adjust the exercise price of these warrants and the common shares that may be acquired following this Consolidation.
Before the Consolidation, 126 924 130 common shares of Conporec were issued and outstanding. Following the Consolidation, 12 692 413 common shares are issued and outstanding.
This Consolidation is being done to favor and facilitate the investments of various institutional investors, especially European investors, following major issues of shares and convertible securities by Conporec over the past year. As announced by Conporec last November 19, 2007, this Consolidation will also facilitate the Alternext/Euronext eventual listing.
On October 9, 2007, TSX Venture Exchange conditionally accepted the filing on the Corporation related to the Consolidation, subject to filing the documents.
Conporec Inc. develops, owns and operates various patented composting and sorting technologies for the treatment and recycling of municipal solid waste. Conporec successfully delivered three sorting-composting plants (Canada, France, United States) and also about thirty composting locations (Canada). Conporec is a socially responsible organization listed on the TSX Venture Exchange.
For more information:
President and CEO
Tel: + 1.450.746.9996
Conporec SAS (France)
Director General, Conporec SAS
Tel: (+33) 06 30 32 63 86
Tel: (+33) 01 53 67 35 81
Recevez gratuitement par email les prochains communiqués de la société en vous inscrivant sur www.actusnews.com
Receive by email the next press releases of the company by registering on www.actusnews.com, it's free