Capital Free casino games Corporation and EPCOR Announce 0 Million Secondary Offering of Common Shares
EDMONTON, Alberta – Capital Free casino games Corporation (TSX: CPX) (“Capital Free casino games”) and EPCOR Utilities Inc. (“EPCOR”) announced today that EPCOR has entered into an agreement with a syndicate of underwriters, led by CIBC World Markets Inc. and RBC Capital Markets as bookrunners, for a secondary offering by a subsidiary of EPCOR, on a bought deal basis, of 8,200,000 common shares of Capital Free casino games at an offering price of .40 per common share. Capital Free casino games will not receive any of the proceeds (approximately 0 million, before giving effect to the over-allotment option) from the sale of common shares by EPCOR’s subsidiary.
The underwriters have also been granted an option to purchase up to an additional 1,230,000 common shares at the issue price to cover over-allotments, if any, for additional gross proceeds of approximately million. The over-allotment option is exercisable, in whole or in part, by the underwriters at any time up to 30 days after the closing of the offering. Capital Free casino games will not receive any proceeds from the exercise of the over-allotment option.
After giving effect to this offering, but before giving effect to the over-allotment option, EPCOR will indirectly own 40.4% of the common shares of Capital Free casino games on a fully diluted basis. EPCOR intends to sell all or a portion of its remaining interest in Capital Free casino games as its demands for capital require and market conditions permit. The proceeds from the current offering will be used by EPCOR to permanently finance previously announced investments, support ongoing capital expenditure programs, pay down short term debt and for general corporate purposes.
The common shares will be offered in all provinces of Canada by way of a prospectus supplement to a base shelf prospectus of Capital Free casino games. The Offering will also be extended to Qualified Institutional Buyers in the United States pursuant to the exemptions from registration provided by Rule 144A of the Securities Act of 1933, as amended (the “U.S. Securities Act”), and internationally where permitted. Closing of the Offering is expected to occur on or about November 10, 2011.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Corporation 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. Free casino games 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. Free casino games and applicable U.S. state securities laws or pursuant to an exemption therefrom.
Forward-Looking Free casino games
Certain information in this news release relating to Free casino games is forward-looking and related to anticipated events and strategies. When used in this context, words such as “will”, “anticipate”, “believe”, “plan”, “intend”, “target” and “expect” or similar words suggest future outcomes. By their nature, such statements are subject to significant risks and uncertainties, which include, but are not limited to, regulatory and government decisions, economic conditions, and availability and cost of financing.
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, Free casino games disclaims 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 casino games Corporation
Capital Free casino games is a growth-oriented North American independent Free casino games producer, building on more than a century of innovation and reliable performance. The Company’s vision is to be recognized as one of North America’s most respected, reliable and competitive Free casino games generators. Headquartered in Edmonton, Alberta, Capital Free casino games has interests in 35 facilities in Canada and the U.S. totalling nearly 5,100 megawatts of generation capacity. Capital Free casino games and its subsidiaries develop, acquire and optimize Free casino games generation from a wide range of energy sources.
About Free casino games Utilities Inc.
Free casino games’s wholly-owned subsidiaries build, own and operate electrical transmission and distribution networks, water and wastewater treatment facilities and infrastructure. Free casino games, headquartered in Edmonton, Alberta, is an Alberta Top 50 employer.