Clean Power Concepts Secures Non-Binding Term Sheet For $15 Million Funding Commitment From Centurion Private Equity
Clean Power Concepts Inc. (OTCBB:CPOW) today announced the
signing of a non-binding term sheet for a $15,000,000 Equity Funding
Facility with Centurion Private Equity, LLC (“Centurion,” an affiliate
Clean Power Concepts Inc. (OTCBB:CPOW) today announced the signing of a non-binding term sheet for a $15,000,000 Equity Funding Facility with Centurion Private Equity, LLC (“Centurion,” an affiliate of Roswell Capital Partners, LLC). The funding was arranged by Intellivest Securities, Inc. The terms provide for Centurion to commit to purchase for cash consideration, subject to certain conditions and limitations, up to an aggregate of $15,000,000 of CPOW’s stock. Under the Equity Funding Facility, CPOW, may, at its discretion, periodically sell to Centurion share of CPOW’s common stock at a price equal to 96% of the market price of CPOW’s common stock. The term sheet for the Equity Funding Facility is subject to (i) the parties entering into formal agreements setting forth their respective rights and obligations and (ii) Centurion’s completion of, and satisfaction with, the results of its ongoing due diligence investigation of the Company’s business and its assets, operations, properties, financial condition, contingent liabilities, prospects and material agreements. Mr. Mike Shenher, C.E.O. of Clean Power Concepts, commented: “CPOW management is pleased is come to agreement for the funding facility from Centurion that is exercisable at our discretion, which allows for flexibility”. Mr. Paul Gorski, Sr. Investment Officer at Roswell, added: “ We are very excited to be working with CPOW and look forward to providing them with the necessary capital and support to achieve their potential in the coming years.”Clean Power Concepts is a producer of Filtered Canola Oil, Canola Feed Meal, Lubricants, Chemicals and Additives. The Company manufactures and markets products under CLEAN POWER CONCEPTS ® and MOPO ® brands. More information may be obtained at URL www.cleanpowerconcepts.com. Intellivest Securities, Inc., Member FINRA, is a boutique investment-banking firm based in the suburbs of Atlanta, GA. Intellivest provides a variety of consulting services, including capital raising services involving the structuring, marketing and closing of financing transactions. Intellivest specializes in raising capital for small- and micro-cap public and private companies across all industry groups. JT Schroeder and Tim Pitoniak, owners of the consulting firm C4 Capital Markets, LLC, arranged the transaction and they are registered representatives with Intellivest Securities, Inc. Certain information contained in this press release, including any information as to our strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements." All statements, other than statements of historical fact, are forward-looking statements. The words "believe," "expect," "will," "anticipate," "contemplate," "target," "plan," "continue," "budget," "may," "intend," "estimate," "project" and similar expressions identify forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain cost adjustments and/or delays beyond the company's control with respect to bio energy manufacturing operations, changes in the worldwide price of agricultural commodities, crude oil, and/or certain other commodities; regulatory, legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with bio energy manufacturing operations or development activities; employee relations; transportation logistics; and the unpredictability of risks involved in the newly developing bio energy industry. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.