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Alterra Power Arranges Extension to Iceland BondVANCOUVER, July 14, 2016 /PRNewswire/ - Alterra Power Corp. ("Alterra") is pleased to announce that it has reached an agreement with two Icelandic investment funds to extend by one year the maturity of a bond with an approximate value of US$55 million, which will now be payable on July 16, 2017. The bond was originally assumed by Alterra when it acquired a 52% stake in its subsidiary HS Orka hf in September 2010. Under the extension agreement all terms of the original bond are unchanged other than the maturity and the interest rate, which is adjusted from 3.5% to 5.0% for the one-year extension period. The bond remains non-recourse to Alterra and no further collateral was pledged for this extension. About Alterra Power Corp. Alterra trades on the Toronto Stock Exchange under the symbol AXY and OTC in the United States as MGMXF. About HS Orka hf Cautionary Note Regarding Forward-Looking Information Certain statements and information included in this news release are "forward-looking information" within the meaning of Canadian securities laws that involve risks and uncertainties. Forward-looking information relates to future events or future performance and reflects management's expectations and beliefs regarding future events as of the date hereof. Examples of forward-looking information in this news release include all statements regarding development, construction, financing and operations of this 2016-2017 solar development pipeline, and the timing of each thereof and the date the Jimmie Creek project will achieve commercial operations. Forward-looking information is based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection. Since forward-looking information relates to future events and conditions, by its very nature it requires making assumptions and involves inherent risks and uncertainties. Alterra cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking information. Material risk factors and assumptions include the timing of construction for the solar portfolio, and Alterra's development, construction and finance plans and timing regarding the portfolio, as well as those set out in the management's discussion and analysis section of Alterra's most recent annual and quarterly reports and in Alterra's Annual Information Form for the year ended December 31, 2015. Although Alterra has attempted to identify important factors that could cause actual actions, events or results to differ materially from forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate and undue reliance should not be placed on forward-looking information. Except as required by law, Alterra undertakes no obligation to update any forward-looking information to reflect new information, subsequent or otherwise. SOURCE Alterra Power Corp. |