CALGARY, Oct. 5 /CNW/ -- Alter NRG Corp. (TSX: NRG; OTCQX: ANRGF) ("Alter NRG" or the "Company") is pleased to announce the closing of the acquisition of 100% of the shares of CleanEnergy Developments Corp. ("CleanEnergy"), a leading private company providing geoexchange services in the Canadian commercial, industrial and residential markets. The acquisition price of $18.4 million has been satisfied with $7.81 million cash and 5.3 million common shares of Alter NRG at a deemed price of $2.00 per share.
For further details of this acquisition, please refer to our press release issued on September 30, 2009 by visiting our website at www.alternrg.com.
ABOUT ALTER NRG
Alter NRG is pursuing alternative energy solutions to meet the growing demand for environmentally responsible energy in world markets. The Company's vision is to commercialize growth technologies through developing environmentally sustainable and economically viable alternative energy projects. The Company's objectives are twofold; first, is to further commercialize the Westinghouse Plasma technology, a wholly owned subsidiary, to provide renewable and clean energy solutions from a wide variety of feedstocks, and providing a wide variety of energy outputs - including liquid fuels like diesel, and ethanol, power, and syngas and, second, to capitalize on the rapidly growing geoexchange residential and commercial heating and cooling market through a wholly owned subsidiary, CleanEnergy, that enables consumers to reduce their carbon footprint and reduce the cost and volatility of energy bills using the energy from the earth.
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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