Business
Alter NRG Corp. retracts the exclusive license to POSCO ICT
TSX - NRG OTCQX - ANRGF CALGARY, Oct. 22, 2012 /CNW/ - Alter NRG ("Alter NRG" or th...
About this update from Pinnacle Silver And Gold Corp
[{"type":"text","content":"\n\n\n\n\n\nTSX - NRGOTCQX - ANRGF\n\n\nCALGARY, Oct. 22, 2012 /CNW/ - Alter NRG (\"Alter NRG\" or the \"Company\")\n has retracted the exclusive territory license and joint development\n agreement (\"the Agreement\") with POSCO ICT that was previously\n disclosed on September 5, 2012. POSCO ICT failed to pay the $1 million\n initial payment and has been delivered a breach of contract notice by\n the Company.  POSCO ICT has a waste-to-energy project which it is\n evaluating the Westinghouse Plasma Technology owned by Alter NRG,\n however, at this time the exclusive license has been rescinded and it\n is uncertain what future activities with POSCO ICT will be agreed upon,\n if any.\n\n\nABOUT ALTER NRG\n\n\nAlter NRG provides alternative energy solutions to meet the growing\n demand for environmentally responsible and economically viable energy\n in world markets. Alter NRG's primary objective is to further\n commercialize the Westinghouse Plasma Gasification Technology, through\n its wholly owned subsidiary, to provide renewable and clean energy\n solutions from a wide variety of feedstocks, and provide a wide variety\n of energy outputs - including liquid fuels like ethanol and diesel,\n electrical power, and syngas.\n\n\nThe Toronto Stock Exchange does not accept responsibility for the\n adequacy or accuracy of this release.\n\n\nAdvisory Respecting Forward-Looking Statements:\nThis news release contains certain \"forward-looking information and\n statements\" within the meaning of applicable securities laws.  The use\n of any of the words \"expect\", \"anticipate\", \"continue\", \"estimate\",\n \"objective\", \"ongoing\", \"may\", \"will\", \"project\", \"should\", \"believe\",\n \"plans\", \"intends\", \"confident\", \"might\" and similar expressions are\n intended to identify forward-looking information or statements.  In\n particular, this new release contains forward looking statements\n pertaining to capital expenditures, schedules and commencement of\n operations of existing projects and projects under development;\n availability of project financing; timing of sales; industry trends;\n factors influencing capital investments and development activities; the\n Corporation's reputation and market position within the industries in\n which it operates and the Corporation's strategy and competitive\n advantag...