American Power Corp. Completes $4 Million Equity Facility With Yorkville Advisors
February 27 2012 - 9:00AM
Marketwired
American Power Corp. (OTCBB: AMPW) ("American Power" or "the
Company") is pleased to announce that it has entered into a Standby
Equity Distribution Agreement ("SEDA") with Yorkville Advisors, LLC
("Yorkville"), the US-based alternative investment manager, on
behalf of YA Global Master SPV Ltd ("YA Global"). Pursuant to the
agreement, the Company may, at its sole and exclusive option,
periodically sell to YA Global up to $4 million of newly issued
common stock.
"We are extremely pleased to have secured this agreement in the
current market conditions and we consider that Yorkville's
commitment is a validation of the potential of our flagship Pace
Coal Project," commented Al Valencia, President and CEO of American
Power. "This new funding agreement provides us with complete
flexibility to place shares over a period of time and raise the
necessary tranches of capital to fund our exploration activities in
Montana. Moreover, it would also limit shareholder dilution by only
doing so if and when project milestones are achieved," added Mr.
Valencia.
Pursuant to the SEDA, American Power agreed to file with the SEC
a registration statement, the effectiveness of which is a condition
to the purchase and sale of any shares, with respect to common
stock issuable under the SEDA. For full details on the SEDA, please
refer to our 8-K filing dated February 24, 2012.
About Yorkville Advisors
Founded in January 2001 by Mark Angelo, Yorkville specializes in
providing flexible, innovative debt and equity investments and
financing in publicly listed companies in a variety of sectors
including mining, oil & gas, healthcare, real estate,
manufacturing & shipping and technology.
Yorkville tailors its transactions on an
investment-by-investment basis, which may include debt and equity
investments, bridge financings, asset backed or SEDA backed notes,
equity facilities and straight equity participation.
Yorkville has offices in Jersey City (NJ), Palm Beach Gardens
(FL), Denver (CO), London and Hong Kong. For further information
about Yorkville Advisors visit: www.yorkvilleadvisors.com.
About American Power Corp.
American Power Corp. is a publicly traded, dynamic energy
company based in Denver, Colorado. The Company was established with
the focus of acquiring near-term, large-scale coal projects in
close proximity to national transportation links. American Power
envisions developing the Pace Coal Project, a 29,000 acre coal
project located in Judith Basin County, Montana, to support
domestic electricity generation. The estimated resources in place,
based on exploration work conducted by Mobil Oil Co. (now
ExxonMobil Corp.), in several independent studies, range from 172
million up to 410+ million tons of high volatility bituminous B
coal.
American Power trades on the OTC BB under the ticker symbol
AMPW. Shareholders are invited to contact investor relations toll
free at (800) 537-1110 for further information or visit the
Company's website at www.americanpowerco.com.
Forward-Looking Statements
Statements in this news release that are not historical facts
are forward-looking statements that are subject to risks and
uncertainties. Forward-looking statements in this news release
include that American Power Corp.'s 29,000-acre leases in Judith
Basin County, Montana, have high volatile bituminous B coal in the
range of 172 and 410+ million tons. Readers should also refer to
the risk disclosures outlined in the Company's quarterly reports on
Form 10-QSB, annual reports on Form 10-KSB, and the Company's other
disclosure documents filed from time-to-time with the Securities
and Exchange Commission available at www.sec.gov.
Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission ("SEC")
permits mining companies, in their filings with the SEC, to
disclose only proved reserves that a company has demonstrated by
actual production or conclusive formation tests to be economically
and legally producible under existing economic and operating
conditions. We use certain terms in this document that SEC's
guidelines may prohibit us from including in filings with the
SEC.
Investor Relations Information: American Power Corp. Toll
Free: 1-800-537-1110 E-mail: Email Contact