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Trading symbol: CST
Outstanding shares: 50,261,136
QUEBEC CITY, Nov. 20 /PRNewswire-FirstCall/ - CO2 Solution Inc. ("CO2 Solution" or the "Company") announced today that its 2008 Annual General Meeting (the "Meeting") was held yesterday at which shareholders were provided with an update as to the Company's technological, corporate and financial progress and outlook.
All shareholder resolutions sought were passed at the Meeting. Glenn Kelly, Evan Price, Kimberley Okell, Martin P. Pelletier, Jocelyn Proteau and Robert Manherz were confirmed as Directors. Yvon Giasson and Rejean Blais did not request new mandates as members of the Board of Directors. Commenting on Mr. Giasson's departure, Mr. Blais stated "On behalf of the Board and Executive Committee, I would like to express my gratitude to Yvon for his significant contributions and we wish him well in future."
Mr. Evan Price was appointed as Chairman of the Board in a subsequent meeting of the Board of Directors. Commenting on his appointment and Mr. Blais' departure, Mr. Price said "As I begin my new tenure as Chairman, on behalf of the Board, I would like to thank Rejean for his tireless contributions to the Company over the years. The Board owes a debt of gratitude for his outstanding work and we wish him well in his future endeavours. I look forward to continuing the progress he helped create by working diligently to lead the Board through this important new growth phase in the Company's development".
With these appointments and resignations, the Board of Directors is now comprised of the following members:
Position Principal Occupation
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Evan Price Chairman President & CEO, SiM Composites
Glenn Kelly Director and President & CEO of the Company
Secretary
Kimberley Okell Director Lawyer; Vice-President. Legal
Affairs and Corporate Secretary,
Cossette Communication Group Inc.
Martin P. Pelletier Director Senior Advisor, Cascades Group Inc.
Jocelyn Proteau Director Corporate Director
Robert Manherz Director Principal, Dundurn Capital
Partners Inc.
In addition, Raymond Chabot Grant Thornton S.E.N.C.R.L. were approved as Auditors and an increase in the number of options that can be granted under the Stock Option Plan was approved.
The Meeting also included a presentation by Glenn Kelly on the opportunity for the Company's carbon capture technology as well as recent technical and business milestones. A replay of the web cast of the presentation is available for 90 days at: http://www.cnw.ca/en/webcast/slideViewer/index.cgi?eventID=2481160&media=win
"We were very pleased with the enthusiastic response from shareholders and other interested parties at the Annual Meeting. We believe this demonstrates keen interest in the Company in light of the substantial growth opportunity for climate change related innovations and our position in this market.", said Mr. Kelly.
About CO2 Solution
CO2 Solution Inc. has developed a proprietary bio-technological platform for the efficient capture of carbon dioxide (CO2), the most important greenhouse gas (GHG), from power plants and other large stationary sources of emissions. The Company's technology platform exploits the natural power of a bio-catalyst (enzyme), carbonic anhydrase, which functions within humans and other mammals to manage CO2 during respiration. CO2 Solution has successfully adapted the enzyme to function within an industrial environment, and thus has taken advantage of a biomimetic approach to CO2 capture based on millions of years of evolution. The Company is commercializing its technology for coal fired power generation, the oil sands and other CO2-intensive industries where a low-cost capture solution is key to meeting climate change legislation in a cost effective manner. News releases and additional information are available at www.co2solution.com
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein and accepts no responsibility for it.
SOURCE CO2 SOLUTION INC.
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