CarbonOne Technologies Now Trading on the TSX Venture Exchange

CarbonOne Technologies Inc. (TSXV:CX), formerly Palo Duro Energy Inc. (TSXV:PDE.H), is now trading on the TSX Venture Exchange under the symbol “CX”. CarbonOne Technologies is a business combination with CarbonOne Holdings Corp. and Tapango Resources Ltd. (TSXV:TPA.H)
CarbonOne, through its subsidiaries, is engaged in the development, production, manufacturing and commercialization of advanced materials. The Company holds exclusive world-wide licenses for a suite of intellectual property, and will initially focus on two products: C1Bar and C1Board. C1Bar is a composite rebar that is lighter than steel yet has stronger tensile strength than steel. C1Board is a carbon ceramic composite panel with potential application across a wide range of industries; it is eight times stronger, yet lighter than plywood.
As quoted in the press release:

Palo Duro had 32,218,347 shares issued and outstanding prior to closing and completed a share consolidation (on a four to one basis) leaving it with 8,054,606 shares issued and outstanding. Following consolidation and on closing, Palo Duro issued 61,501,788 shares to shareholders of CarbonOne Holdings (one Palo Duro share for each one share of CarbonOne Holdings) and concurrently issued 11,215,033 shares to shareholders of Tapango (1.071 Palo Duro shares for each one share of Tapango). Concurrently with closing of the Transaction, Palo
Duro changed its name to CarbonOne Technologies Inc.
As part of the Transaction, CarbonOne Holdings and Tapango closed private placements at a price of $0.20 per share for gross proceeds of $2,000,000. In connection with the private placements, finder’s fees in the aggregate amounts of $19,200 and 65,511 common shares of the Company were paid to arm’s length finders. CarbonOne will have net cash of approximately $2.6 million at conclusion of the Transaction, including cash on hand from Tapango and Palo Duro.
Following completion of the Transaction, the Company also granted stock options to directors, officers, employees and consultants of the Company to purchase up to an aggregate amount of 6,825,000 shares of the Company. The stock options are exercisable for a five-year period at a price of $0.20, and will vest over an 18-month period. Following the grant of options, the Company has 7,783,406 stock options outstanding.

Click here for the full CarbonOne Technologies Inc. (TSXV:CX) press release.
For further information with respect to CarbonOne or the contents of this news release, please contact:
John Proust
CEO, Chairman and Director
Rhylin Bailie
Vice President, Investor Relations
Tel: 604-609-6136
Email: info@carbononetech.com
Website: www.carbononetech.com