Alter NRG announces private placement
OTCQX - ANRGF
CALGARY, Feb. 10, 2014 /CNW/ - (TSX: NRG; OTCQX: ANRGF) Alter NRG Corp. ("Alter NRG" or the "Company") announces the closing of 7,812,500 common shares of the Company ("Offered Shares") at a price of $0.64 per Offered Share pursuant to a non-brokered private placement offering for total gross proceeds of approximately $5 million (the "Financing"). Proceeds from the Financing will be used primarily to further sales and marketing efforts in current and new market segments.
Walter Howard, CEO of Alter NRG states that "I am pleased to have improved our balance sheet strength. As a market leading technology Company, financial strength is important to investors and to our customer base as well. With financial strength, the backlog from recent sales, and further projects hitting significant commercial milestones, I am excited about our prospects for 2014."
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 provide a wide variety of energy outputs - including liquid fuels like ethanol and diesel, electrical power, and syngas.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
Advisory respecting Forward Looking- Statements:
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects, including the use of proceeds from the Offering.
These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. The intended use of the proceeds of the Offering by the Company might change if the board of directors of the Company determines that it would be in the best interests of the Company to deploy the proceeds for some other purpose. The forward looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligations to update publically or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE Alter NRG Corp.For further information:
Walter Howard, Chief Executive Officer
(403) 806-3877 email@example.com
Daniel Hay, Chief Financial Officer
(403) 214-4235 firstname.lastname@example.org