VANCOUVER, Oct 30, 2009 -- Carbon Friendly Solutions Inc. (TSX Venture Exchange: CFQ) ("CFS" or the "Company") (http://www.carbonfriendly.com) is pleased to announce that it is increasing its previously announced (by way of news release dated September 23, 2009) financing from $1,000,000 to up to $2,000,000 by way of non-brokered private placement (the "Offering").
The Offering is now expected to consist of the issuance of up to 7,407,407 units (the "Units") of the Company, at a proposed subscription price of $0.27 per Unit, with each such Unit consisting of one common share and one common share purchase warrant (each a "Warrant") of the Company, and with each such Warrant entitling the holder thereof to purchase one additional common share of the Company (each a "Warrant Share") at an exercise price of $0.35 per Warrant Share for a period of two years following the closing of the Offering.
Finders' fees may be paid in accordance with TSX Venture Exchange policies. Proceeds of the Offering will be used by the Company for general working capital.
About Carbon Friendly Solutions Inc.
Carbon Friendly Solutions Inc. (CFS) is a project proponent that provides solutions for companies, organizations and individuals looking to reduce or offset their global warming impact caused by greenhouse gas emissions while including the generation of carbon credits for sale in the global Voluntary and Compliance markets. Through its wholly owned subsidiaries, Global CO2 Reduction Inc. and CO2 Reduction Poland Sp. z.o.o., CFS is focusing on removing and offsetting carbon dioxide emissions from the completion of reforestation, biomass energy and renewable energy technology projects that are independently validated and verified to globally recognized standards and methodologies.
On behalf of the Board of Directors
Carbon Friendly Solutions Inc.
"Michael Young"
CEO and a director
Certain statements included in this News Release contain forward-looking statements, including disclosure concerning possible or assumed future results of operations of the Company. Forward-looking statements typically are preceded by, followed by or include the words - "believes," "expects," "anticipates," "estimates," "intends," "plans," or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions, and the Company's results could differ materially from those anticipated in these forward-looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
