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.
For further information:
Jeff Jenner, CA, CBV
President and Chief Executive Officer
Sprott Power Corp.
The Equicom Group
416-815-0700 ext. 264