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innovente inc (IGE) Snapshot

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innovente inc (IGE) Details

Innovente Inc. produces electricity and heat from organic waste in Canada. The company sells its electricity to the distributors under long-term contracts. The company was founded in 2004 and is headquartered in Quebec, Canada. As of July 17, 2014, Innovente Inc. filed for bankruptcy protection under the provisions of the Bankruptcy and Insolvency Act, Canada.

30 Employees
Last Reported Date: 03/31/14
Founded in 2004

innovente inc (IGE) Top Compensated Officers

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Compensation as of Fiscal Year 2015.

innovente inc (IGE) Key Developments

Innovente Announces Transfer Of Listing From TSX Venture Exchange To NEX

In accordance with TSX Venture Policy 2.5, Innovente Inc. has not maintained the requirements for a TSX Venture Tier 2 company. Therefore, effective June 17, 2015, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Montreal to NEX. As of June 17, 2015, the Company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies. The trading symbol for the Company will change from IGE to IGE.H. There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX Venture market. Further to the TSX Venture Exchange Bulletin dated September 3, 2014, trading in the Company's securities will remain suspended.

Innovente Shuts Down 4.6-MW Biomass CHP Plant in Canada

Innovente Inc. will close its 4.6-MW biomass-fired combined heat and power (CHP) plant in the province of Quebec. The facility in the St-Patrice-de-Beaurivage municipality will halt operations immediately for an indefinite period. Its personnel will be temporarily dismissed, adding that the move is part of its cost-cutting strategy.

Innovente Inc. Announces Temporary Layoffs at its Saint Patrice de Beaurivage Plant

Innovente Inc. announced the temporary layoff of its employees working in the operations of the Saint Patrice de Beaurivage plant. The interruption of operations at the Saint Patrice de Beaurivage plant is effective immediately for an indefinite period. In addition, the company will proceed in the coming days with the temporary layoff of part of its headquarters' employees. This decision is consistent with cost-cutting measures undertaken by the corporation, in order to implement solutions that will allow it to recover an adequate level of liquidity and to continue its operations. The company is regretful of the impact of these measures on its employees, but believes they are essential in the current context and in the best interest of the corporation.


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