CO2 Solutions Inc. closes C$1.5M public offering of units

Date Closed

December 21, 2017

Lead Office

Québec City


1.50 Million CAD

On December 22, 2017, CO2 Solutions Inc. ("CO2 Solutions") announced the closing of its public offering pursuant to which CO2 Solutions issued 1,500 units (the "Units") at a price of $1,000 per Unit, representing aggregate gross proceeds of C$1.5 million. Each Unit consists of an 8% convertible unsecured debenture in the principal amount of $1,000 and 8,333 common share purchase warrants of CO2 Solutions.

CO2 Solutions will use the net proceeds of the public offering to pay down existing debt balances and for general working capital purposes. Echelon Wealth Partners Inc. ("Echelon") acted as sole agent for the public offering pursuant to an agency agreement entered into between Echelon and CO2 Solutions.

Based in Québec City, CO2 Solutions is an innovator in the field of enzyme-enabled carbon capture, and has been actively working to develop and commercialize the technology for stationary sources of carbon pollution. CO2 Solutions' technology lowers the cost barrier to Carbon Capture, Sequestration and Utilization (CCSU), positioning it as a viable CO2 mitigation tool, as well as enabling industry to derive profitable new products from these emissions.

McCarthy Tétrault LLP advised CO2 Solutions with a  team led by Philippe Leclerc, that included Charles-Antoine Soulière, Myreille Gilbert, Charles-Alexandre Jobin and Annie Poirier-Simard (Securities), and Marie-Soleil Landry and Quentin Lageix (Tax).