Clean Power Concepts Secures $30 Million Funding Commitment From Centurion Private Equity, LLC
April 14 2011 - 4:45PM
Business Wire
Clean Power Concepts Inc. (listed as “CPOW” on the NASD
OTC:BB) today announced the signing of a $30,000,000 Equity Funding
Facility with Centurion Private Equity, LLC (“Centurion,” an
affiliate of Roswell Capital Partners, LLC). Centurion had
increased is commitment amount under the facility from the
previously announced $15,000,000 to $30,000,000. The funding was
arranged by Intellivest Securities, Inc.
Centurion has committed to purchase for cash consideration,
subject to certain conditions and limitations described in the
agreement, up to an aggregate of $30,000,000 of Clean Power
Concepts’ common stock. Under the Equity Funding Facility, Clean
Power Concepts may, at its discretion, periodically sell to
Centurion shares of Clean Power Concepts’ common stock at a price
based upon the market price (as defined in the agreement) of Clean
Power Concepts’ common stock.
Mr. Michael Shenher, C.E.O. of Clean Power Concepts,
commented:
“This funding will enable CPOW to advance rapid efforts to
commercialize our patented protein extraction technology, expand
canola-crushing operations, and propel product development and
distribution.”
“Additional capital will, among other things, fund the ongoing
development of international business activities.”
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.