CALGARY, ALBERTA--(Marketwire -06/28/12)- NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Alter NRG Corp. (NRG.TO) (ANRGF) ("Alter NRG" or the "Corporation") announced today that it has undertaken a marketed offering of approximately 7,500,000 common shares of the Corporation ("Common Shares") (the "Offering") at a price per share of $0.29, for total proceeds of approximately $2,175,000. The Offering is being led by Fraser Mackenzie Limited. The Offering is to be effected in each of the provinces of Canada, except Quebec, by way of a prospectus supplement to Alter NRG's base shelf prospectus dated June 28, 2011. Prior to the Offering, Alter NRG has 62,165,533 common shares issued and outstanding.
This transaction is scheduled to close on or about July 10, 2012, subject to satisfaction of customary closing conditions, including the receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.
ABOUT ALTER NRG
Alter NRG provides alternative energy solutions to meet the growing demand for environmentally responsible and economically viable energy in world markets. Alter NRG's primary objective is to further commercialize the Westinghouse Plasma Gasification Technology, through its wholly owned subsidiary, to provide renewable and clean energy solutions from a wide variety of feedstocks, and the syngas created can provide a wide variety of energy outputs - including liquid fuels like ethanol and diesel, electrical power, heat, steam, or replacing fuel oil.
This news release is not an offer to sell or a solicitation of an offer to buy Common Shares in the United States. The Common Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. This news release does not constitute an offer to sell Alter NRG securities or the solicitation of an offer to buy Alter NRG securities, nor is there to be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. All sales will be made through registered securities dealers in jurisdictions where the offering has been qualified for distribution.
Advisory Respecting Forward-Looking Information
This news release contains certain "forward-looking information" within the meaning of applicable securities laws. The use of the words "may" and "will" and similar expressions are intended to identify forward-looking information. In particular, but without limitation, this news release contains forward-looking information in respect of the sale of Common Shares.
Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information contained in this news release. The forward-looking information included in this news release is not a guarantee of future performance and should not be unduly relied upon. Forward-looking information reflects management's current beliefs and assumptions, based on information currently available to management.
A number of factors, risks and uncertainties could cause actual results to differ materially from the results discussed in the forward-looking information, many of which are beyond the control of the Alter NRG. Among the material factors that could cause actual results to differ materially from those indicated by such forward-looking information are: completion of the closing of the Offering, due to factors including, but not limited to, changes in market conditions and an inability to obtain necessary regulatory approvals, as well as those factors discussed in or referred to under the heading "Risk Factors" in Alter NRG's Annual Information Form for the year ended December 31, 2011 which is available under Alter NRG's profile on SEDAR at www.sedar.com.
Alter NRG cautions that the foregoing list of risks and uncertainties is not exhaustive. The forward-looking information contained in this news release speaks only as of the date of this news release, and Alter NRG assumes no obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable securities laws.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.