CALGARY, AB – Entropy Inc. (“Entropy” or the “Corporation”, a subsidiary of Advantage Energy Ltd., “Advantage”) is pleased to announce the initiation of a formal process to explore alternatives for raising external capital, including a private placement of equity securities of the Corporation (the “Financing”).
Entropy intends that the net proceeds from the Financing would be used to fund the commercial development of Carbon Capture and Sequestration (“CCS”) projects using Entropy’s patent-pending process design, Entropy23TM solvent, and deep expertise in geological carbon storage.
Entropy has retained TD Securities Inc., Scotia Capital Inc. and Desjardins Securities Inc. as agents for the Financing. The Corporation does not intend to provide any updates on the progress of this initiative until a definitive outcome is reached.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to, for the account or benefit of, U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.