CALGARY, Jan. 31, 2013 /CNW/ - Ervington Investments Limited ("Ervington") today announced that it has acquired 18,461,538 common shares (the "Shares") of Alter NRG Corp. (the "Company") representing approximately 18.2% of the issued and outstanding Shares, as known by Ervington. The Shares were acquired by way of a private placement with the Company.
After giving effect to the acquisition referred to above, Ervington owns and controls a total of 18,461,538 Shares representing approximately 18.2% of the issued and outstanding shares of the Company.
Ervington acquired the Shares through a private placement with the Company pursuant to a subscription agreement dated November 2, 2012. The subscription agreement provided for the purchase of such Shares for consideration of $0.325 per Share. Ervington has acquired the Shares for investment purposes and may, depending on market and other conditions, increase or decrease its beneficial ownership control or direction over Shares of the Company through market transactions, private agreements or otherwise.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in the press release are forward-looking statements and are prospective in nature, including statements with respect to Ervington's future intentions regarding the securities of the Company that it owns. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward-looking statements should therefore be construed in light of such factors, and Ervington is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Ervington Investments Limited