Business
Harvest International New Energy acquires approximately 94% of the issued and outstanding shares of Alter NRG
CALGARY , July 24, 2015 /CNW/ - Alter NRG Corp. ("Alter NRG" or the "Company") (TSX:...
About this update from Pinnacle Silver And Gold Corp
[{"type":"text","content":"\n\nCALGARY, July 24, 2015 /CNW/ - Alter NRG Corp. (\"Alter NRG\" or the \"Company\") (TSX:NRG) and Harvest International New Energy Co., Ltd. (\"Harvest\") are pleased to announce that 1030629 B.C. Ltd. (the \"Offeror\"), a wholly-owned subsidiary of Harvest, intends to take up 26,538,141 common shares of Alter NRG (\"Common Shares\") that were validly deposited under the Offeror's offer to acquire (the \"Offer\") all of the issued and outstanding Common Shares for C$5.00 in cash per share. The Common Shares to be taken up under the Offer represent approximately 94% of the issued and outstanding Common Shares.\n\nAll of the conditions to the Offer have been satisfied and the offer period, which was extended until July 24, 2015, is now closed. The Offeror intends to take up all Common Shares that were validly deposited under the Offer and not properly withdrawn prior to 5:00 p.m. (Calgary time) on July 24, 2015. Payment for such Common Shares is expected to be made by the Offeror as soon as reasonably practicable.\n\nAs set out in the take-over bid circular and notices of extension in respect of the Offer, Harvest intends to acquire all outstanding Common Shares not tendered to the Offer through a compulsory acquisition under the Business Corporations Act (Alberta). Alter NRG understands that Harvest intends to, as soon as practicable after the completion of such compulsory acquisition, apply to delist the Common Shares from the Toronto Stock Exchange and to cause Alter NRG to cease to be a reporting issuer under the securities laws of each of the provinces and territories of Canada in which it has such status.\n\nABOUT ALTER NRG\n\nAlter 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.\n\nCautionary Statement\n\nNo stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein.\n\nAdvisory Respectin...