Spara Acquisition One Corp announces filing of preliminary non-offering prospectus related to proposed qualifying transaction
July 15 2012 - 9:44PM
PR Newswire (Canada)
TORONTO, July 17, 2012 /CNW/ - Spara Acquisition One Corp. (the
"Corporation") announced that it has filed and received a receipt
for a preliminary non-offering prospectus with the Ontario
Securities Commission in connection with the Corporation's proposed
acquisition of all of the issued and outstanding securities of STE
(Clean Recycling and Energy) plc ("STE") which was previously
announced (the "Transaction"). Neither the preliminary prospectus,
nor its filing with the Ontario Securities Commission, its
publication on www.SEDAR.com or this press release, constitutes the
announcement or making of any offer by the Corporation for any
securities of STE, whether for the purposes of Rule 2.7
of the United Kingdom's City Code on Takeovers and Mergers, or
otherwise. There is no certainty that any such offer will be
made, nor as to the terms of any such offer (if made), and the
Corporation has no obligation or commitment to make any such offer.
About Spara Acquisition One Corp. The Corporation is a Capital Pool
Company listed on the TSX Venture Exchange (the "TSXV"). The
Corporation has not commenced commercial operations and has no
assets other than cash. The Transaction, if completed, will
constitute the Corporation's "Qualifying Transaction", as defined
in TSXV policies. About STE (Clean Recycling and Energy) plc STE is
a Jersey, Channel Islands domiciled company, with a 100% owned UK
based waste management business focused on recycling and green
energy operating under the trade name Sterecycle®. Further
Information Further details about the proposed transaction and the
combined entity are provided in the preliminary prospectus filed
July 16, 2012. Completion of the Transaction is subject to a number
of conditions, including but not limited to, TSXV acceptance and if
applicable pursuant to TSXV requirements, majority of the minority
shareholder approval. Where applicable, the Transaction cannot
close until the required shareholder approval is obtained. There
can be no assurance that the Transaction will be completed as
proposed or at all. Investors are cautioned that, except as
disclosed in the preliminary prospectus and as disclosed in any
final prospectus eventually filed in connection with the
Transaction, any information released or received with respect to
the Transaction may not be accurate or complete and should not be
relied upon. Trading in the securities of a capital pool company
should be considered highly speculative. The TSXV has in no way
passed upon the merits of the proposed transaction and has neither
approved nor disapproved the contents of this press release. The
Corporation will engage a sponsor in connection with the
Transaction if required in accordance with the requirements of the
TSXV. Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Spara Acquisition One Corp. CONTACT:
Shane McLeanCorporate SecretarySpara Acquisition One Corp.(613)
599-9600
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