The Company entered into an equipment purchase agreement with CarbonIP dated
CarbonIP is owned by
The board of directors of the Company reviewed the Appraisal and upon determining that the Kiln was being sold at or above fair market value, approved the sale of the Transaction. As the Kiln was unused and redundant, the sale of the Kiln is not expected to impact the business of the Company.
All disclosure requirements have been met under MI 61-101 and Policy 5.9 as well, the Issuer is relying on the exemption to a formal valuation available pursuant to paragraph 5.5(a) and the exemption to minority shareholder approval pursuant to paragraph 5.7(1)(a).
"As we focus on strengthening our balance sheet, we will continue to monitor all assets to ensure they are either working for us or are converted to cash. Two years ago, on
Neither the
We are a
Our products are in 10,000+ retail stores across North America. Our innovations, created at our C-Quester™ Centre of Sustainable Innovation, bring positive disruption to the cement, agricultural and animal-care sectors by creating products that help reduce carbon footprints and restore ecosystems.
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.
This news release, required by Canadian laws, does not constitute an offer of securities and is not for distribution or dissemination outside
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