Solutions4CO2 Inc. Announces Its Joint Venture Subsidiary's First Purchase and Distribution Agreement
2013年12月16日 - 11:10PM
Marketwired
Solutions4CO2 Inc. Announces Its Joint Venture Subsidiary's First
Purchase and Distribution Agreement
TORONTO, ONTARIO--(Marketwired - Dec 16, 2013) - Solutions4CO2
Inc. (TSX-VENTURE:SFC) ("S4CO2" or the "Company") is pleased to
announce that its 50% owned Joint Venture Subsidiary ("the JV Sub")
has signed a Purchase and Distribution Agreement with a privately
owned Canadian company ("the Customer") that is an established
supplier of ingredients and products in the nutraceutical
industry.
The JV Sub uses the S4CO2 Bio-Extraction Process ("BEP") that
incorporates a liquid to liquid solvent extraction process to
extract and blend high-value shrimp oils from shrimp
by-products.
The Purchase and Distribution Agreement has a 3 year term with
minimum and targeted purchase volumes at a fixed price, subject to
certain conditions, including the product meeting specifications to
the satisfaction of the Customer.
The first purchase amount will be for up to half of the final
shrimp oil product from the 2013 shrimp by-product feedstock that
the JV Sub has already obtained from the Fall catch. The product is
expected to be shipped and revenue recognized in the first quarter
of 2014, assuming there are no production delays.
The Customer will put forth a Letter of Credit for one hundred
percent of the minimum purchase volumes of product from the 2013
feedstock and the minimum purchase volume outlined in the Purchase
and Distribution Agreement for Q2 2014.
To secure the right to purchase additional volumes of product
above the minimum volumes for the following semi-annual periods
during the Purchase and Distribution Agreement, the customer has
agreed to put forward semi-annual Letters of Credit at the
beginning of the first and third quarters for an amount equal to
the minimum purchase volumes as outlined in the Agreement.
This Purchase and Distribution Agreement to supply high value
shrimp oils is the first commercial scale Agreement that S4CO2's JV
Sub has executed.
About Solutions4CO2:
Solutions4CO2 is a Canadian company that develops innovative
waste-gas, water, biomass to high-value co-product solutions using
proprietary and licensed technologies under the trademarks
Integrated Biogas Refinery™ ("IBR") and Bio-Extraction Process™
("BEP"). The IBR integrates best in class technologies to convert
various organic waste streams into high-value algae co-products.
The BEP utilizes a liquid to liquid solvent extraction process to
extract and fractionate high-value co-products from shrimp
by-products. Solution4CO2's business model allows the company to
participate in joint-venture projects with partners across the
waste-to-high-value co-product value chain, or sell projects on a
design, build, operate and maintain basis.
Forward-looking Statements
This news release may contain forward-looking statements
that are based on Solutions4CO2's expectations,
estimates and projections regarding its business and the economic
environment in which it operates. These statements are not
guarantees of future performance and involve risks and
uncertainties that are difficult to control or predict. Therefore,
actual outcomes and results may differ materially from those
expressed in these forward-looking statements and readers should
not place undue reliance on such statements. Statements speak only
as of the date on which they are made, and the Company undertakes
no obligation to update them publicly to reflect new information or
the occurrence of future events or circumstances, unless otherwise
required to do so by law.
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.
Solutions4CO2 Inc.Douglas Kemp-WelchCEO416-803-9435Solutions4CO2
Inc.Dil VashiManager Corporate Development416-803-9435 extension
104www.s4co2.com
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