Harvest International New Energy Acquires Remaining Shares of Alter NRG Pursuant to a Compulsory Acquisition

CALGARY, Aug. 28, 2015 /CNW/ - Alter NRG Corp. ("Alter NRG" or the "Company") (TSX:NRG) and Harvest International New Energy Co., Ltd. ("Harvest") are pleased to announce that 1030629 B.C. Ltd. (the "Offeror"), a wholly-owned subsidiary of Harvest, has successfully acquired the remaining common shares of Alter NRG (the "Common Shares") pursuant to a compulsory acquisition carried out under Part 16 of the Business Corporations Act (Alberta) following its previously announced successful takeover bid.  As a result of the acquisition of such shares, the Offeror now owns all of the issued and outstanding Common Shares of Alter NRG.

The Common Shares of Alter NRG will be delisted from the TSX as at close of markets on September 1, 2015 and Alter NRG will apply to relevant securities regulatory authorities for it to cease to be a reporting issuer.

Cautionary Statement

No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein.

Advisory Respecting Forward-Looking Statements:

This news release contains "forward-looking statements" within the meaning of applicable securities laws that are intended to be covered by the safe harbors created by those laws, including statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential", or the negative thereof or other variations thereof or comparable terminology. Such forward-looking statements may include, without limitation, statements regarding the delisting of the Common Shares, the reporting issuer status of Alter NRG and other statements that are not historical facts. While such forward-looking statements are expressed by Alter NRG, the Offeror and Harvest in good faith and believed by Alter NRG, the Offeror and Harvest to have a reasonable basis, they are subject to important risks and uncertainties including, without limitation, changes in applicable laws or regulations.

Forward-looking statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. As a result, readers are advised that actual results may differ from expected results. The timing and completion of the proposed acquisition of Alter NRG is subject to certain conditions, termination rights and other risks and uncertainties. Accordingly, there can be no assurance that the proposed acquisition of Alter NRG will occur, or that it will occur on the timetable or on the terms and conditions contemplated. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Reliance on forward-looking statements is at an investors' own risk.

SOURCE Alter NRG Corp.

Alter NRG, Walter Howard, Chief Executive Officer, [phone] [email protected]; Daniel Hay, Chief Financial Officer, [phone], [email protected]