Sprott Power Corp. Completes the Sale of Non-Core Hydroelectric Assets

TORONTO, Sept. 19, 2011 /CNW/ - With reference to the press release dated August 24, 2011, Sprott Power Corp. ("Sprott Power") (TSX: SPZ), a developer, owner and operator of renewable energy projects, today announced the completion of the sale of its partnership interests in a number of hydro development projects located in northwestern British Columbia to its partner Anyox Hydro Electric Corp. As previously disclosed, the proceeds from the sale will total up to $4.8 million, with $2.1 million paid through a combination of cash and a short-term irrevocable letter of credit, and the balance receivable upon the successful completion of certain project development milestones.

About Sprott Power Corp.
Sprott Power is a publicly-traded (TSX: SPZ) Canadian-based company dedicated to the development, owning and operating 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.

Forward-Looking Statements
Certain information contained in this press release may constitute "forward-looking information" which reflect the current expectations of Sprott Power including the ability of the acquirer of successfully complete certain of the project development milestones which would impact the timing and value of the gross proceeds to Sprott Power. 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 and Uncertainties" in Sprott Power's Management's Discussion and Analysis of Financial Results dated June 13, 2011. 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 believe 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.
416-943-6387
jjenner@sprottpower.com
                Catherine Love
Investor Relations
The Equicom Group
416-815-0700 ext. 266
clove@equicomgroup.com

 

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