/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TSX - NRG
OTCQX - ANRGF
CALGARY, Aug. 3, 2012 /CNW/ - Alter NRG Corp. ("Alter NRG" or the "Company") is pleased to announce that it has completed its previously announced public offering of common shares of the Company ("Common Shares") for aggregate gross proceeds of approximately C$2,433,100 (the "Offering"). The Offering was conducted through Fraser Mackenzie Limited (the "Agent"), as agent of the Company. At closing, the Company issued 8,390,000 Common Shares at a price of C$0.29 per Common Share.
Notwithstanding the qualification by prospectus supplement, dated July 3, 2012, of the Common Shares under the Offering for distribution in each of the Provinces of Canada other than Québec, and the agency agreement between the Company and Fraser Mackenzie Limited, dated July 3, 2012, both as filed on the System for Electronic Analysis and Retrieval (SEDAR), selling efforts and sales of Common Shares in Canada pursuant to the Offering were limited exclusively to the Provinces of Alberta, British Columbia and Ontario.
Alter NRG intends to use the net proceeds from the sale of the Offered Shares for general working capital purposes, to finance future growth opportunities and to fund general and administrative expenses.
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.
This news release contains certain "forward-looking information and statements" within the meaning of applicable securities laws. This forward-looking information relates to future events or Alter NRG's future performance. In particular, this news release contains forward-looking statements and information pertaining to statements regarding the use of proceeds of the Offering and the Company's future plans and expectations of its performance. All statements other than statements of historical fact may be forward-looking information. This forward-looking information is subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking information. The outcome and timing of the Company's use of proceeds of the Offering and its future plans and expectations of performance could differ materially from that expressed in or implied by such forward-looking information and accordingly, no assurances can be given that any of the events anticipated by the forward-looking information will transpire or occur or, if any of them do, what benefits that Alter NRG will derive from them. Alter NRG's forward-looking information is expressly qualified in its entirety by this cautionary statement. The forward-looking information and statements contained in this news release speak only as of the date of this news release, and the Company assumes no obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable securities laws. For a description of the risks and uncertainties facing Alter NRG and its business and affairs, readers should refer to Alter NRG's Annual Information Form for the year ended December 31, 2011, which is available at www.sedar.com. The reader is cautioned not to place undue reliance on forward-looking information and statements.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company in the United States. The offered Common Shares described in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered, sold or delivered in the United States absent an exemption from registration.
SOURCE: Alter NRG Corp.
For further information:
Walter Howard, Chief Executive Officer
Daniel Hay, Chief Financial Officer