Business
Alter NRG Announces the Sale of a Non-Core Asset for US$1.75 Million
TSX: 'NRG' OTCQX: 'ANRGF' CALGARY, Oct. 6, 2011 /CNW/ - Alter NRG Corp. (" Alter NRG ...
About this update from Pinnacle Silver And Gold Corp
[{"type":"text","content":"\n\n\n\n\n\nTSX: 'NRG'\n\n\nOTCQX: 'ANRGF'\n\n\nCALGARY, Oct. 6, 2011 /CNW/ - Alter NRG Corp. (\"Alter NRG\") announces it has entered into a definitive agreement to sell its\n steam turbine for US$1.75 million.  An initial deposit of $200,000 has\n been received and the closing of the additional $1.55 million is\n expected to occur upon final closing, within the next 90 days.  This is\n a legacy asset from a project that was discontinued in 2009 and was\n classified in the financial statements as an asset held for sale for\n $2.1 million.\n\n\nKevin Bolin, Executive Chairman states \"this sale further strengthens\n our cash position which combined with the sale of another non-core\n asset for 5 million announced last month gives us a healthy balance\n sheet. With the near-term milestones expected, we are well positioned\n for growth in our core plasma gasification business.\"\n\n\nABOUT ALTER NRG\n\n\nAlter NRG is pursuing alternative energy solutions to meet the growing\n demand for environmentally responsible energy in world markets. Alter\n NRG's vision is to commercialize growth technologies through\n environmentally sustainable and economically viable alternative energy\n projects. Alter NRG's primary objective is to further commercialize the\n Westinghouse Plasma Gasification Technology, through its wholly owned\n subsidiary, to provide renewable and clean energy solutions from a wide\n variety of feedstocks, and provide a wide variety of energy outputs -\n including liquid fuels like ethanol and diesel, electrical power, and\n syngas.\n\n\nThe Toronto Stock Exchange does not accept responsibility for the\n adequacy or accuracy of this release.\n\n\nThis news release does not constitute an offer to sell Alter NRG\n securities or the solicitation of an offer to buy Alter NRG securities,\n nor is there to be any sale of securities in any jurisdiction in which\n such offer, solicitation or sale would be unlawful prior to\n registration or qualification under the securities laws of such\n jurisdiction.\n\n\nAdvisory Respecting Forward-Looking Information\n\n\nThis news release contains certain forward-looking information and\n statements within the meaning of applicable securities laws\n (collectively, \"forward-looking information\"). The use of the words \"expect\" and \"will\", and similar expressions\n are inten...