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