Great Plains Metals Corp. press release
Pristine Power Inc. announces exercise of over-allotment option
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TSX: PPX
CALGARY, April 18 /CNW/ - Pristine Power Inc. ("Pristine" or the "Company") is pleased to announce it has closed the over-allotment option (the "Over-Allotment Option") previously granted to a syndicate of agents which included Haywood Securities Inc., Cormark Securities Inc., Canaccord Capital Corporation and Macquarie Capital Markets Canada Ltd. (collectively the "Agents"). The Over-Allotment Option was granted in respect of the Company's $50 million initial public offering (the "IPO"), which closed on March 18, 2008.
The Agents elected and have purchased 1,250,000 common shares pursuant to the Over-Allotment Option at $4.00 per common share for gross proceeds to Pristine in the amount of $5,000,000.00. The Company raised aggregate gross proceeds of $55,000,000.00 through the IPO and the Over-Allotment Option. The Company presently has 30,145,190 common shares issued and outstanding.
About Pristine
Pristine was founded in 2002, and is in the business of developing, owning and operating independent power plants that will produce and sell electricity and, in some cases, sell process steam to industrial users. Pristine capitalizes on opportunities in the independent power market by actively pursuing the development of dependable, cost-effective and environmentally responsible power generation facilities utilizing technology with proven past performance. Pristine currently has three projects under construction, and is actively developing projects in Ontario, British Columbia and Alberta.