TORONTO,
July 17, 2012 /CNW/ - Spara
Acquisition One Corp. (the "Corporation") (TSXV: SAO.P)
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.
SOURCE Spara Acquisition One Corp.