- Sprott Power Corp. Announces 2013 First Quarter ResultsMay 15, 2013
- Sprott Power Corp. Announces 2012 Annual and Fourth Quarter ResultsMar 28, 2013
- Sprott Power Corp. Announces Quarterly DividendMar 20, 2013
- Sprott Power Corp. Finalizes Transition Agreement Feb 11, 2013
- Sprott Power Provides Management Transition UpdateFeb 01, 2013
- Sprott Power Announces Management TransitionJan 28, 2013
- Sprott Power Corp. Announces Loan to Contracted Wind Power ProjectsJan 14, 2013
- Sprott Power Initiates Strategic ReviewJan 10, 2013
- Sprott Power Corp. Announces Quarterly DividendDec 18, 2012
- Sprott Power Corp. to Increase Quarterly Cash DividendNov 26, 2012
- Sprott Power Corp. Completes Acquisition of Shear Wind and Enters into Agreements with New PartnerNov 23, 2012
- Sprott Power Corp. Announces 2012 Third Quarter ResultsNov 12, 2012
- Sprott Power Corp. Provides Update on Ontario Wind Projects Oct 25, 2012
- Shear Wind Shareholders Approve Plan of ArrangementOct 09, 2012
- Sprott Power Corp. Announces Quarterly DividendSep 17, 2012
- Sprott Power Announces Closing of $4.5 Million Over-Allotment OptionAug 30, 2012
- Sprott Power Completes $30 Million Public Offering of Extendible Convertible Unsecured Subordinated DebenturesAug 28, 2012
- Sprott Power, Wind Canada Investments and Shear Wind announce agreement for the acquisition of Shear Wind by Sprott Power and $30 million public offering by Sprott Power of Extendible Convertible Unsecured Subordinated DebenturesAug 08, 2012
- Sprott Power Corp. Announces 2012 Second Quarter ResultsJul 24, 2012
- Sprott Power Corp. Announces 45 Megawatts of Bids for Nova Scotia Renewable Energy Projects and Other UpdatesJun 28, 2012
- Sprott Power Corp. Announces Investments in Contracted Wind Power Projects Jun 26, 2012
- Sprott Power Corp. Hosts Nova Scotia’s Premier Darrell Dexter at Amherst Wind Farm Ribbon Cutting CeremonyJun 25, 2012
- Sprott Power Corp. Announces Increased Quarterly DividendJun 08, 2012
- Sprott Power Corp. Announces 2012 First Quarter ResultsMay 07, 2012
- Sprott Power Corp. to Increase Quarterly Cash DividendApr 17, 2012
- Sprott Power Corp. Announces Substantial Completion of the Amherst ProjectApr 16, 2012
- Sprott Power Corp. to Hold its Annual Shareholders Meeting on May 15, 2012 and Announces Adoption of Shareholder Rights PlanApr 10, 2012
- Sprott Power Corp. Announces 2011 Annual and Fourth Quarter ResultsMar 27, 2012
- Sprott Power Corp. Announces Quarterly DividendMar 26, 2012
- Sprott Power Corp. Completes $22.8 Million Equity FinancingMar 06, 2012
- Sprott Power Corp. Announces $20.0 Million Equity FinancingFeb 22, 2012
- Sprott Power Corp. Announces Equity FinancingFeb 21, 2012
- Sprott Power Corp. Announces the Installation of All the Turbines at its Amherst Wind Power ProjectFeb 13, 2012
- Sprott Power Corp. announces new refinancing agreement to extend through 2016Dec 23, 2011
- Sprott Power Corp. Announces Completion of First Wind Turbine at its Amherst Wind Farm ProjectDec 12, 2011
- Sprott Power Corp. Announces 2011 Third Quarter ResultsNov 11, 2011
- Sprott Power Corp. to Initiate Quarterly Cash DividendNov 07, 2011
- Sprott Power Corp. Announces Acquisition of 100 MW Alberta Development ProjectOct 06, 2011
- Sprott Power Corp. Completes the Sale of Non-Core Hydroelectric AssetsSep 19, 2011
- Sprott Power Corp. Announces Update on the Sale of Non-Core Hydroelectric Assets to Anyox Hydro Electric Corp.Aug 24, 2011
- Sprott Power Corp. Announces Closing of the Long-Term Financing for the Amherst Wind Farm ProjectAug 16, 2011
- Sprott Power Corp. Announces 2011 Second Quarter ResultsAug 11, 2011
- Sprott Power Corp. Appoints Finn Greflund to the Board of DirectorsJul 14, 2011
- Sprott Power Corp. Announces 2011 First Quarter ResultsJun 13, 2011
- Sprott Power Corp. Announces Agreements and Financing to Complete the Amherst Wind Farm ProjectJun 13, 2011
- Sprott Power Corp. Announces the Signing of a Letter of Intent to Sell its Interest in Non-Core Hydroelectric AssetsMay 11, 2011
- Sprott Power Corp. Announces the Signing of a Long-Term Power Purchase Agreement with Hydro-Québec Distribution for the Sale of 24 Megawatts of Wind PowerMar 24, 2011
- Sprott Power Corp. Appoints Glen Estill and David Rounthwaite to the Board of DirectorsMar 21, 2011
- Sprott Power Corp. Reports 2010 Financial ResultsMar 14, 2011
- Sprott Power Corp. to Release 2010 Financial ResultsMar 09, 2011
- Sprott Power Corp. and First Asset PowerGen Fund Announce Completion of MergerFeb 01, 2011
- First Asset PowerGen Fund Unitholders Approve Arrangement With Sprott Power Corp.Jan 24, 2011
- Sprott Power Securityholders Approve Arrangement; First Asset PowerGen Fund Meeting AdjournedJan 13, 2011
- First Asset PowerGen Fund and Sprott Power Corp. Announce Additional Contracted ProjectDec 21, 2010
- First Asset PowerGen Fund and Sprott Power Corp. Agree to MergeDec 13, 2010
- First Asset PowerGen Fund and Sprott Power Corp Announce Proposed MergerOct 26, 2010
- VentureLink Diversified Income Fund Inc. Invests in Sprott Power Corp.Jul 08, 2010
- FOR IMMMEDIATE RELEASE SPROTT POWER CORP. ANNOUNCES ITS FORMATION, COMPLETION OF CAPITAL RAISE AND MERGER WITH RENEWABLE ENERGY DEVELOPERS LPJun 14, 2010
Press Releases
SPROTT POWER CORP. COMPLETES ACQUISITION OF SHEAR WIND AND ENTERS INTO AGREEMENTS WITH NEW PARTNER
TORONTO, ONTARIO, November 23, 2012. Sprott Power Corp. (TSX: SPZ) (“Sprott Power”) and Shear Wind Inc. (TSXV: SWX) (“Shear Wind”) are pleased to announce the closing of their plan of arrangement (the “Arrangement”) and the establishment of agreements between Sprott Power and its new partner, Genera Avante Holdings Canada Inc. (together with certain of its affiliates,“GAHC”), for the operation and development of the Shear Wind assets.
The acquisition adds the Glen Dhu Wind Farm, the largest wind farm in Nova Scotia, to Sprott Power’s portfolio of assets, increasing its operating assets under management by approximately 80% from 80 MW to 143 MW. The additional operating assets also increase cash flows for Sprott Power. In addition, the Arrangement brings a pipeline of development assets in Alberta, Saskatchewan, New Brunswick and Nova Scotia that are complementary to Sprott Power’s existing portfolio of development assets. Sprott Power has partnered with GAHC for the operation and development of the various assets. GAHC forms part of Inveravante, a business conglomerate based in Spain.
“We are extremely pleased about the addition of the Shear Wind assets to our portfolio”, stated Mr. Jeff Jenner, President and CEO of Sprott Power. “The operating Glen Dhu wind farm will contribute to the cash flow for the company. We look forward to developing and bringing additional projects to commercial operation with our new partner, Genera Avante”.
Payment of the consideration
Sprott Power acquired all of the class A voting common shares of Shear Wind (“Shear Wind Shares”) for consideration of $0.2260407 per Shear Wind Share, which is comprised of the base consideration of $0.2213 and the Willow Ridge payment of $0.0047407. For shareholders who held Shear Wind Shares through a broker, the payment of the consideration will be processed through their broker. For shareholders who held their Shear Wind Shares in registered form, the payment of the consideration will be processed after they deposit their share certificates with Olympia Trust Company, the depositary for the Arrangement, in accordance with the instructions in the Letter of Transmittal previously sent. Any questions regarding payment of the consideration, including any request for another form of Letter of Transmittal, should be directed to the depositary via telephone at (403) 261-0900 or (416) 364-8081 or via email at corporateactions@oympiatrust.com.
About Sprott Power Corp.
Sprott Power is a publicly-traded Canadian-based company dedicated to the development, ownership and operation of renewable energy projects. Through project development efforts, acquisitions, partnerships and joint ventures, Sprott Power provides its shareholders with income and growth from the renewable power generation sector of the energy industry.
Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of historical facts contained in this press release are forward-looking information. Such statements and information may be identified by looking for words such as "about", "approximately", "may", "believes", "expects", "will", "intend", "should", "plan", "predict", "potential", "project", "anticipate", "estimate", "continue" or similar words or the negative thereof or other comparable terminology. Such forward-looking information includes, without limitation, statements with respect to: the benefits which may accrue to Sprott Power and its shareholders as a result of the Arrangement, the operating and development joint ventures between Sprott Power and GAHC and its subsidiary, cash flows, power generation, growth prospects, business strategy and plans, and objectives of or involving Sprott Power. The forward-looking information is based on certain key expectations and assumptions made by Sprott Power, including expectations and assumptions concerning the availability of capital resources and performance of operating facilities. Although Sprott Power believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information since no assurance can be given that they will prove to be correct. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, potential undisclosed liabilities associated with the Arrangement and integration of the business of Shear Wind, failure to realize the benefits of the Arrangement (including cost synergies, operational efficiencies and added stability of cash flows), power generation and the limited nature of the indemnities in the arrangement agreement and other risks generally attributable to the business of Sprott Power. For additional information with respect to risks and uncertainties, refer to the risks listed under the headings "Risk and Uncertainties" in Sprott Power's management's discussion and analysis of financial results for the period ended December 31, 2011 and "Appendix B – Risk Factors" in Sprott Power's annual information form dated March 26, 2012. The forward-looking information is made as of the date of this press release and Sprott Power does not assume any obligation to update or revise it to reflect new events or circumstances, except as required by law.
For more information, please contact:
Jeff Jenner, CA, CBV
President and Chief Executive Officer
Sprott Power Corp.
416-943-6387
jjenner@sprottpower.com
Babak Pedram
Investor Relations
TMX Equicom
416-815-0700 ext. 264
bpedram@tmxequicom.com