Mar. 4, 2011 (Filing Services Canada) -- Anergy Capital Inc. (ACA.P - TSX Venture), a capital pool company, announces that the Qualifying Transaction ("QT") with AllcoGreen Corp. ("AllcoGreen") announced November 16, 2010 is proceeding and that the Company is continuing its due diligence and preparing the filing statement required by the TSX Venture Exchange (the "Exchange").
AllcoGreen intends to acquire the entire share capital of Texas based Allco, LLC and several affiliated entities prior to the closing of the QT pursuant to an Share Purchase Agreement which has been entered into by the parties. The Company has recently been provided with the unaudited financial statements of pending AllcoGreen subsidiary Allco, LLC for the fiscal year ended December 31, 2010 and is pleased to see that both revenue and net income have materially increased when compared to the prior year.
For further information, please contact:
Harley Sinclair
Chief Executive Officer
ANERGY CAPITAL INC.
1010-609 Granville Street
PO Box 10354, Pacific Centre
Vancouver, BC V7Y 1G5
T: (778) 785-0321
F: (604) 648-8031
E: anergyinfo@anergy.ca
Completion of the transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to Anergy's beliefs, plans, expectations, anticipations, estimates and intentions, such as Anergy's acquisition of AllcoGreen by way of the merger, The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes Anergy's expectations as of the date of this news release and includes that (a) the QT will take place and that it will be in the form of a merger, and (b) AllcoGreen will acquire the entire share capital of Allco, LLC and other related companies before the QT. When relying on forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Anergy has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF ANERGY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ANERGY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.
Source: Anergy Capital Inc. (TSX-V - ACA.P)
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