Biomass Secure Power Inc. (OTC Pink: “BMSPF”) is pleased to announce that on September 1, 2014 its wholly owned subsidiary Biomass Power Louisiana LLC (the “Company”) signed a non-binding engagement letter with an underwriter to conduct a proposed public offering of tax-exempt bonds, notes or other debt securities in the aggregate principal amount of up to $184,000,000 (the “Offering”). The Company intends to use the proceeds of the Offering to fund the acquisition, construction, equipping and development of a biomass wood pellet plant in Natchitoches, Louisiana. The engagement letter is subject to the completion of a due diligence review by the underwriter and the execution of a definitive agreement by the parties. In addition, the Company will be required to draft and file a registration statement with the Securities and Exchange Commission (the “SEC”), which is subject to review and comment by the SEC, and the SEC will need to enter an order declaring the registration statement effective before the Company can complete the Offering.
This announcement is being made pursuant to and in accordance with Rule 135, promulgated by the SEC under the Securities Act of 1933, as amended. This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
On Behalf of the Board,
BIOMASS SECURE POWER INC.
This announcement contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include: (A) the intent to conduct the Offering; (B) the intent to use the proceeds from the Offering for the purposes expressed; (C) the intent to draft, file and clear with the SEC a registration statement registering the Offering. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this announcement. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: the ability of the underwriter or the Company to raise the money needed. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this announcement. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, 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 statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The factors identified above are not intended to represent a complete list of the factors that could affect the Company, the Offering or the underwriter’s ability to conduct the Offering. Additional factors are disclosed in the Company’s periodic filings which can be found on SEDAR. The forward-looking statements contained in this announcement are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this announcement are made as of the date of this announcement and the Company undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
Biomass Secure Power Inc.
President and CEO
Contact: 604 807 4957