New Issue: Alter Nrg announces C$40 million private placement of shares

By Devika Patel

Knoxville, Tenn., March 12 - Alter Nrg Corp. announced it has arranged a C$40 million private placement of shares.

The company will sell 9,090,909 common shares at C$4.40 apiece.

The deal is being conducted by a syndicate of underwriters led by Raymond James Ltd. and including Wellington West Capital Markets Inc., Canaccord Adams, Paradigm Capital Inc., Blackmont Capital Inc. and Genuity Capital Markets. The underwriters have a greenshoe for an additional 1,363,636 common shares, or C$6 million.

Proceeds will be used to fund project development and for working capital. Closing is expected April 3.

Alter Nrg, a Calgary, Alta.-based development-stage company, is pursuing alternative energy solutions to meet the demand for environmentally responsible energy in world markets.

Issuer:	Alter Nrg Corp.
Issue:	Common shares
Amount:	C$40 million
Greenshoe:	1,363,636 shares, or C$6 million
Shares:	9,090,909
Price:	C$4.40
Warrants:	No
Underwriters:	Raymond James Ltd. (lead), Wellington West Capital Markets Inc., Canaccord Adams, Paradigm Capital Inc., Blackmont Capital Inc., Genuity Capital Markets
Pricing date:	March 12
Settlement date:	April 3
Stock symbol:	TSX Venture: NRG
Stock price:	C$5.03 at close March 11

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