TORONTO, June 26, 2012 /CNW/ - Sprott Power Corp. (TSX:SPZ), a
developer, owner and operator of renewable energy projects, today
announced that it has entered into agreements under which it has
advanced and/or assumed approximately $5 million in interest bearing
secured loans. The loans are secured by portfolios of wind power
development projects in Ontario and British Columbia with executed
power purchase agreements totaling approximately 172 megawatts. It is
Sprott Power's intention to co-develop some, or all, of these, and
other, contracted projects held by the current owners.
About Sprott Power Corp.
Sprott Power is a publicly-traded (TSX: SPZ) Canadian-based company
dedicated to the development, ownership and operation of renewable
energy projects. Through project development efforts, acquisitions,
partnerships and joint ventures, Sprott Power provides its shareholders
with income and growth from the renewable power generation sector of
the energy industry.
Certain information contained in this press release may constitute
"forward-looking information" which reflects the current expectations
of Sprott Power including its ability complete its co-development
agreements and the development of the projects. This information
reflects Sprott Power's current beliefs with respect to future events
and is based on information currently available to management.
Forward-looking information involves significant known and unknown
risks, uncertainties and assumptions. Many factors could cause actual
results, performance or achievements to be materially different from
any future results, performance or achievements that may be expressed
or implied by such forward-looking information including, without
limitation, the risks listed under the heading "Risk Factors" in the
Company's Annual Information Form dated March 26, 2012. Should one or
more of these risks or uncertainties materialize, or should assumptions
underlying the forward-looking information prove incorrect, actual
results, performance or achievements could vary materially from those
expressed or implied by the forward-looking information contained in
this release. Although forward-looking information contained in this
release is based upon what Sprott Power believes to be reasonable
assumptions, management cannot assure investors that actual results,
performance or achievements will be consistent with this
forward-looking information. The forward-looking information is made as
of the date of this release and Sprott Power does not assume any
obligation to update or revise it to reflect new events or
circumstances, except as required by law.
SOURCE Sprott Power Corp.
For further information:
Jeff Jenner, CA, CBV
President and Chief Executive Officer
Sprott Power Corp.
The Equicom Group
416-815-0700 ext. 264