QUEBEC CITY, QUEBEC--(Marketwire - May 1, 2012) - Innovente Inc. (TSX VENTURE:IGE) ("Innoventé" or the "Company") a leader in the production of renewable energy from organic waste, is pleased to announce the appointment of Daniel Marchand to its board of directors.
Well known in the investment field in Canada, Mr. Marchand is President and CEO of Pfiffner Management Inc. (PMI) and Chair and CEO of the Canadian Renewable Energy Fund. After having worked in senior positions for global asset management firms, Mr. Marchand shares Innoventé's passion and focus on creating a more profitable and sustainable future for all.
"We are pleased to welcome Mr. Marchand on our board of directors. Mr. Marchand's profile in finance and renewable energy is a perfect fit with Innoventé's objectives."
As a director of Innoventé, Mr. Marchand has been granted 75,000 stock options. Pursuant to the terms of the Company's stock option plan, each option grants the holder of such option the right to purchase a common share of the Company at a price of $0.85 per share no later than April 24, 2020. The options granted vest over a four-year period.
Innoventé (TSX VENTURE:IGE) is an innovative producer of renewable energy. The Company has developed a ground-breaking concept that provides communities with a green and sustainable organic waste management solution. Known as "intelligent electricity," this solution converts organic waste into electricity, heat, and fertilizing products, thereby reducing greenhouse gas emissions. Innoventé's intelligent electricity is a solution designed to improve environmental quality and stimulate economic development - and it can easily be applied in all communities. Innoventé has nearly completed the construction of its first intelligent electricity power station, which will serve 6,000 residents in Quebec's Chaudière-Appalaches region. This pioneering power station leads the way for future application of our concept around the world.
Neither 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.
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Innovente Inc. to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.
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