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Harvest International New Energy and Alter NRG Announce Extension of Offer to July 24, 2015
CALGARY , June 15, 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, June 15, 2015 /CNW/ - Alter NRG Corp. (\"Alter NRG\" or the \"Company\") (TSX:NRG) and Harvest International New Energy, Co., Ltd. (\"Harvest\") announced today that the expiry time of the offer by 1030629 B.C. Ltd. (the \"Offeror\"), a wholly-owned subsidiary of Harvest, to acquire (the \"Offer\") all of the issued and outstanding common shares of Alter NRG (\"Common Shares\") for C$5.00 in cash per share has been extended until July 24, 2015, to allow required regulatory approvals to be obtained. All other terms and conditions of the Offer remain the same.\n\nThe completion of the Offer is subject to clearance from the Committee on Foreign Investment in the United States (\"CFIUS\"). The CFIUS review process was initiated by the Company and the Offeror jointly filing a voluntary notice on May 1, 2015 to CFIUS requesting review of the proposed transaction. As previously announced on June 5, 2015, the Company and the Offeror were informed by CFIUS that it was initiating a 45-day second-stage investigation in respect of the application submitted by Alter NRG and the Offeror. The 45-day period expires July 20, 2015, though it is possible CFIUS' investigation could close sooner.\n\nThe Offer is open for acceptance until 5:00 p.m. (Calgary time) on July 24, 2015, unless further extended or withdrawn in accordance with the support agreement entered into in connection with the Offer (the \"Support Agreement\"), and is conditional upon, among other things, there being validly deposited or tendered and not withdrawn, a number of Alter NRG common shares that represents at least 662/3% of the outstanding common shares, the votes of which would be included in any minority approval of a second step business combination pursuant to Multilateral Instrument 61-101 –– Protection of Minority Security Holders in Special Transactions. \n\nA notice announcing the extension of the Offer will be sent by the Offeror to Alter NRG's shareholders. The notice will also be available for review under Alter NRG's profile on SEDAR at www.sedar.com.\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,...