Capital Free games online and EPCOR Announce Completion of 5 Million Secondary Offering of Common Shares and Closing of Exercise of Over-Allotment Option
EDMONTON, Alberta – Capital Free games online Corporation (TSX: CPX) (“Capital Free games online”) and EPCOR Utilities Inc. (“EPCOR”) announced today that EPCOR has completed its sale of 9,450,000 common shares of Capital Free games online at an offering price of .85 per common share for aggregate gross proceeds to EPCOR Free games online Development Corporation (“EPDC”) of 5,382,500. The aggregate offering is comprised of the previously announced offering of 9,000,000 shares at .85 per share for gross proceeds of approximately 4 million, together with the underwriters exercising the over-allotment option for the sale of an additional 450,000 shares at .85 per share for additional gross proceeds of approximately million. The underwriting syndicate for the offering was co-led by CIBC and TD Securities Inc. as bookrunners.
In connection with the offering, EPDC has exchanged (the “Exchange”) all of its remaining outstanding Exchangeable Common Limited Partnership Units of Capital Free games online L.P., not otherwise exchanged in connection with the closing of the secondary offering, for common shares of Capital Free games online in accordance with the terms of the Exchangeable Common Limited Partnership Units. After giving effect to the secondary offering and Exchange EPCOR owns approximately 9.1% of the common shares of Capital Free games online.
EPCOR plans to eventually sell all or a substantial portion of its remaining interest in Capital Free games online subject to market conditions, based on its requirements for capital and other circumstances that may arise in the future. EPCOR anticipates that future sales of common shares by it will be completed by other means including through the facilities of the Toronto Stock Exchange, private agreement or other suitable arrangements available under applicable law. Additionally, as the Registration Rights Agreement between EPCOR and Capital Free games online has been terminated in accordance with its terms following the secondary offering and Exchange, Capital Free games online will no longer be obligated to assist EPCOR in making a secondary offering under a prospectus.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Capital Free games online in the United States or in any jurisdiction in which such offer, solicitation of sale would be unlawful. These securities have not been and will not be registered under the U.S. Securities Act or any U.S. state securities laws and may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws or pursuant to an exemption therefrom.
Forward-Looking Free games online
Certain information in this news release relating to EPCOR and Capital Free games online is forward-looking within the meaning of Canadian securities laws as it relates to anticipated financial performance, events or strategies. When used in this context, words such as “will”, “anticipate”, “believe”, “plan”, “intend”, “target” and “expect” or similar words suggest future outcomes. The purpose of forward-looking information is to provide investors with management’s assessment of future plans and possible outcomes and may not be appropriate for other purposes.
Readers are cautioned not to place undue reliance on forward-looking statements as actual results could differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements. Except as required by law, each of EPCOR and Capital Free games online disclaim any intention and assumes no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason.
About Capital Free games online
Capital Free games online (TSX: CPX) is a growth-oriented North American Free games online producer headquartered in Edmonton, Alberta. The company develops, acquires, operates and optimizes Free games online generation from a variety of energy sources. Capital Free games online owns more than 3,100 megawatts of Free games online generation capacity at 16 facilities across North America and owns 371 megawatts of capacity through a Free games online purchase agreement. An additional 620 megawatts of owned generation capacity is under construction or in advanced development in Alberta and Ontario. Capital Free games online’s website is: www.capitalpower.com.
About Free games online Utilities Inc.
Free games online’s wholly-owned subsidiaries build, own and operate electrical transmission and distribution networks, water and wastewater treatment facilities and infrastructure in Canada and the United States. The company’s subsidiaries also provide electricity and water services and products to residential and commercial customers. Free games online, headquartered in Edmonton, Alberta, is an Alberta Top 70 employer. Free games online’s website is www.Free games onlinecom.