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Harvest International New Energy and Alter NRG Announce Extension of Offer to June 15, 2015
CALGARY , May 28, 2015 /CNW/ - Alter NRG Corp. ("Alter NRG" or the "Company") (TSX:NRG) a...
About this update from Pinnacle Silver And Gold Corp
[{"type":"text","content":"\n\nCALGARY, May 28, 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 June 15, 2015, to allow required regulatory approvals to be obtained. All other terms and conditions of the Offer described in the Offeror's Offer and Circular dated April 22, 2015 remain the same.\n\nAs previously announced, the completion of the Offer is subject to clearance from the Committee on Foreign Investment in the United States (\"CFIUS\"). In early May 2015, Alter NRG and the Offeror each filed voluntary notices with CFIUS and, since that time, have been cooperating with CFIUS in order to obtain clearance as soon as possible.\n\nThe Offer is open for acceptance until 5:00 p.m. (Calgary time) on June 15, 2015, unless further extended or withdrawn in accordance with the Support Agreement, and is conditional upon, among other things, there being validly deposited or tendered and not withdrawn, a number of Alter NRG common shares that represents at least 662/3% of the outstanding common shares, the votes of which would be included in any minority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, 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 s...