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TORONTO, Nov. 11 /CNW/ - Michael Zakroff, Chairman, President and Chief Executive Officer of Standard Steam Canada Corp. ("SSCC"), is pleased to announce today that SSCC has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada, other than the Province of Quebec, in connection with an initial public offering of its common shares.
A syndicate of agents, co-led by Research Capital Corporation and CIBC World Markets Inc., has been formed to manage the initial public offering. The other members of the syndicate are Wellington West Capital Markets Inc., Canaccord Capital Corporation and Jacob Securities Inc.
Copies of the preliminary prospectus may be obtained from:
Research Capital Corporation, Suite 4500, 199 Bay Street, Toronto, Ontario, M5L 1G2, Attention: Lee Ward, Phone No.: (416) 860-8642; Fax (416)-860-8671; email: firstname.lastname@example.org, or: CIBC World Markets Inc., 5th Floor, 161 Bay Street, Brookfield Place, Toronto, Ontario, M5J 2S8, Attention: Minerva Isovski, Phone No.: (416) 594-7761; Fax (416) 594-7765; email: email@example.com.
The prospectus is available at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Standard Steam Trust LLC or Standard Steam Canada Corp. in any jurisdiction.
About Standard Steam Canada Corp. and Standard Steam Trust LLC
Standard Steam Canada Corp. was created to acquire the largest single beneficial interest in Standard Steam Trust LLC ("SST"), a private Colorado-based geothermal exploration and development company that has assembled a portfolio of eight premier geothermal projects in Nevada, Idaho and Utah.
SST is a leading geothermal resource developer in the western United States. Since its inception in August 2008, SST has been focused on acquiring, exploring and developing industrial-scale geothermal resources, primarily those with total production potential of between 100 megawatts ("MW") and 300 MW per project, which are anticipated to be highly desirable to utilities, independent power producers and major energy companies. SST's goal is to develop its existing portfolio of projects into over 1,000 MW of power generating capacity. In this regard, two of SST's projects have an aggregate resource that GeothermEx, Inc., which is recognized as the premier consulting firm in the geothermal industry, has identified as having a 90% probability of being at least 258 MW, and a 50% probability of being at least 545 MW.
This release contains "forward-looking statements" which reflect the current expectations of SSCC. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve 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 statements including, without limitation, those listed under the headings "Cautionary Statement Regarding Forward-Looking Statements" and "Risk Factors" in SSCC's preliminary prospectus. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this release. Accordingly, prospective investors should not place undue reliance on these forward-looking statements. These forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, SSCC does not assume any obligation to update or revise them to reflect new events or circumstances.
SOURCE STANDARD STEAM CANADA CORP.
For further information: For further information: David Trautenberg, Vice President, Corporate Strategy and Investor Relations, Standard Steam Canada Corp., Phone: Cell: (307) 699-2384, Office: (303) 339-8954, Email: firstname.lastname@example.org; (or) Susanna Foels, Vice President, Corporate Development, Standard Steam Canada Corp., Phone: (303) 939-8800, Email: email@example.com