SustainCo Inc.: Completion of the Acquisition of VCI Controls Inc.

SustainCo Inc. (the "Company" or "SustainCo") (TSX VENTURE:SMS) is pleased to
announce that the Company has completed the previously announced acquisition of
all of the issued and outstanding shares in the capital of VCI Controls Inc.
("VCI"); the TSX Venture Exchange (the "Exchange") granted final approval of the
acquisition on June 6, 2014. 


In December 2013 the Company entered into a share purchase agreement and
assignment agreement with PriceCo Inc. ("PriceCo") and Tannenberg Management
Inc. ("TMI") respectively (collectively the "Agreements") for the purchase of
all of the issued and outstanding subordinate voting and multiple voting shares
in the capital of VCI for the aggregate purchase price of $2,300,000. 


The Purchase Price was satisfied through the payment of $100,000 cash, the
issuance of 4,444,444 common shares in the Company (the "Shares") at an issue
price of $0.1125 per Share for an aggregate value equal to $500,000, and the
assumption of debt in the amount of $1,700,000 owing to TMI by PriceCo (the
"Debt"). The Debt was acquired through an assignment by TMI for the purchase
price of $625,000 and upon close the Company cancelled the Debt. 


"We are very happy to add VCI capabilities to the SustainCo group of companies.
As we continue to build on our sustainable development capabilities we believe
VCI allows SustainCo to continue to build and promote its strategy of providing
the highest level of products and services in the market," stated Emlyn David,
CEO of SustainCo.


About VCI

VCI Controls Inc. is a leading supplier of building technologies and services
that improve comfort, safety, energy efficiency, and occupant productivity. It
is an industry leader in the development of intelligent building technology,
including the integration of all building systems utilizing the latest in
communications technologies and standards. VCI's business focuses on digital
controls and mechanical services, performance monitoring, and energy efficiency
solutions. 


Founded in 1981, VCI is headquartered in Toronto with branch offices in Ottawa,
Montreal, Halifax and Pembroke. It has been a pioneer in the development of
direct digital controls and continues to be a leader in the industry in product
development. 


VCI has an installed customer base of over 1,400 clients including installs in
very large and complex buildings such as the National Art Gallery of Canada, the
RCMP complex in Ottawa, the Canadian Forces Base in Halifax, and the Billy
Bishop Airport in Toronto. 


About SustainCo

SustainCo is a leading provider of sustainable infrastructure solutions and
services. SustainCo operates through its two groups, CleanEnergy Developments
and SustainCo Solutions & Services. 


CleanEnergy Developments is an early stage developer and investor in clean and
renewable energy projects with experience in wind, solar, biomass, and thermal
energy projects. CleanEnergy Developments provides strategic capital, funding
management, and execution expertise. 


SustainCo Solutions & Services provides comprehensive building performance
services, incorporating full life cycle asset optimization, finance, design,
build, operations and maintenance services for new build and retrofit
facilities. Specifically, it provides: engineering services, building automation
controls, performance monitoring, energy and lighting retrofits, mechanical and
electrical installation and services, thermal energy systems, and operations and
maintenance services for multi-residential and ICI facilities. 


With headquarters in Toronto, SustainCo has offices across Canada including,
Halifax, Montreal, Pembroke, Ottawa, Vaughan, Toronto, and Calgary. For more
information, visit www.sustainco.ca.


Certain statements in this press release are forward-looking statements. The
reader is cautioned that assumptions used in the preparation of such
information, although considered reasonable by the Company at the time of
preparation, may prove to be incorrect. Forward-looking statements, specifically
those concerning future performance, the completion of the Private Placement,
consolidation of indebtedness and the Secured Note Offering and other statements
that are not historical fact, are subject to certain risks and uncertainties,
and actual results may differ materially from the Company's plans and
expectations. These plans, expectations, risks and uncertainties are detailed
herein and from time to time in the filings made by the Company with the
Exchange and securities regulators. The Company does not assume any obligation
to update or revise its forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law. Trading in
the securities of the Company should be considered highly speculative. All
forward-looking information contained in this news release is expressly
qualified in its entirety by this cautionary statement.


Neither the Exchange, nor its Regulation Services Provider (as that term is
defined in the policies of the Exchange) accepts responsibility for the adequacy
or accuracy of this release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained
herein.


FOR FURTHER INFORMATION PLEASE CONTACT: 
SustainCo Inc.
Emlyn David
President, Chief Executive Officer and Chairman
(647) 258-0960
www.sustainco.ca
Vitreous Glass (TSXV:VCI)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024