Co2 Solutions Inc COSLF

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The debts of CO2 Solutions, which recently became protected by the Bankruptcy and Insolvency Act, amount to approximately $ 12.9 million.
This is in the public documents of Trustee Ernst and Young.
CO2 Solutions owes a little over $ 11.58 million to its 98 unsecured creditors with claims, including $ 2.5 million to Canada Economic Development and the same amount to parts supplier and builder Alco-TMI.
The Quebec company specializing in the capture of carbon using enzymes also accumulates debts of $ 1.24 million towards its five secured creditors. The largest amount is close to $ 679,000 to Dundurn Capital Partners.
It also owes nearly $ 41,000 to its preferred creditors, the amount including workers' wages and rents.
Several grants
On September 16, CO2 Solutions filed for protection under the Bankruptcy and Insolvency Act with the intention of making a proposal to its creditors.
The company had been experiencing financial difficulties for several months. Management then analyzed all options, including selling, merging or closing.
The offer is expected to be presented to shareholders in the coming weeks.
Since 2013, CO2 Solutions has benefited from more than $ 17.8 million in grants from Quebec and Ottawa through various programs as well as Alberta's Climate Change and Emissions Management Corporation.
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