TORONTO, Oct. 9 /CNW/ - SkyPower, a company affiliated with Lehman
Brothers, announced today that it has acquired 14,285,714 units (each, a
"Unit") of AAER Inc. ("AAER"), at a price of $0.35 per Unit for an aggregate
price of $5,000,000. Each Unit consists of one common share of AAER and one
common share purchase warrant (a "Warrant"). Each Warrant is exercisable to
acquire one common share of AAER at a price of $0.45 for a period of five
years from the date of issue.
The 14,285,714 common shares of AAER acquired by SkyPower, which are the
only shares that SkyPower or Lehman Brothers own directly or indirectly or
have control or direction over, represent 20.4% of the issued and outstanding
common shares of AAER.
The Units were acquired for investment purposes. In the future, SkyPower
or Lehman may increase (through the exercise of the Warrants or otherwise) or
decrease their ownership in the securities of AAER depending on the business
and prospects of AAER as well as market conditions.
An early warning report in respect of the above-noted transaction will be
filed on SEDAR and will be available at www.sedar.com.
For further information:
For further information: SkyPower Corp., 250 Yonge Street, 16th Floor,
Toronto, Ontario, M5B 2L7, Kerry Adler, (416) 979-4625