|By Marketwired .||
|February 28, 2014 02:50 PM EST||
ABBOTSFORD, BC -- (Marketwired) -- 02/28/14 -- Biomass Secure Power Inc. (OTC Pink: BMSPF) (the "Company") is pleased to announce that, under the sponsorship of Canaccord Genuity Wealth Management ("Canaccord Genuity"), the Company will apply to become a publicly listed company on the TSX Venture Exchange.
The Company also announces a private placement of $250,000 of convertible debentures. The debentures will not accrue interest and will be due eight months after closing of the Offering. The principal amount is convertible at a conversion price of $0.10 per Share unless converted at maturity in which event is convertible at a conversion price of $0.09 per Share. The proceeds of this placement will primarily be used to pay costs related to listing on the TSX-V.
Canaccord Genuity meets investors' individual needs by searching the globe for investment opportunities. Drawing from their global network, they look at both the bigger picture and the finer details. This enables Canaccord Genuity to deliver long-term investment strategies, as well as informed, near-term solutions that make a difference locally to wealth management clients in Canada, Australia, the UK, and Europe. Canaccord Genuity is a global, full service investment bank focused on growth companies, with operations in 12 countries worldwide and the ability to list companies on 10 stock exchanges.
In Canada, Canaccord Genuity is a leading, independent wealth management firm. Their advisors are entrusted with over $10 billion of assets under administration by clients across the country.
About the Company
Biomass Secure Power Inc. is incorporated in the Province of British Columbia. The Company's Business Plan is based upon the construction of a pellet plant and chipping facility at the Port of Natchitoches, Louisiana. Phase One of the Plant consists of three production lines capable of producing over 1,000,000 tonnes of pellets per year. The Company projects that long term off-take agreements for the sale of all of Phase One production will be in place prior to construction ground breaking planned for summer 2014. Public filings and financial information on the Company can be found at: www.sedar.com.
Safe Harbour Statement:
This information includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives and goals of the Company management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results.
On Behalf of the Board,
BIOMASS SECURE POWER INC.
President and CEO
Contact: 604 807 4957
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