|By Marketwired .||
|June 13, 2014 06:49 PM EDT||
QUEBEC CITY, QUEBEC -- (Marketwired) -- 06/13/14 -- Innovente Inc. (TSX VENTURE:IGE) ("Innovente" or the "Corporation") announces today that it must restructure its debt and implement solutions to recover an adequate level of liquidity. Innovente is evaluating all the options that will allow the Corporation to regain a viable financial position and obtain additional financing in order to continue its operations. Among these options, the Corporation is considering a financial and corporate restructuring, the sale of assets, seeking financial and strategic partners or any other form of transaction.
Certain technical and operational issues at the Saint-Patrice-de-Beaurivage plant have resulted in the progression trend observed earlier this year not being maintained, which has compounded the liquidity problems of the Corporation.
Based in Quebec City, Innovente produces renewable energy by providing communities with a green and sustainable solution for the management of residual organic matter with its patented technology. Innovente stock is listed on the TSX Venture Exchange under the ticker symbol IGE (TSX VENTURE:IGE). www.innovente.ca
Disclaimer regarding forward-looking statements
Certain statements included herein may constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management when they are made, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Investors are cautioned not to place undue reliance on forward-looking statements. The Corporation disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or other development unless required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as these terms are defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
President and Chief Executive Officer, Innovente