Etrion Confirms Engagement of Greenhill & Co. to Assist in Possible Sale of Italian Portfolio
September 13, 2016, Miami, Florida – Etrion Corporation (“Etrion” or the “Company”) (TSX: ETX / OMX: ETX), a solar independent power producer, confirms that it has engaged financial advisor Greenhill & Co. International LLP to assist in evaluating the possible sale of the Company’s 60-megawatt Italian solar portfolio. The sale of the Italian portfolio would allow the Company to recycle some of its capital and focus its efforts on its expanding asset portfolio in Japan.
No agreement has been reached with respect to the sale of all or any portion of the Italian portfolio and no assurance can be given that any such sale will be concluded.
About Etrion
Etrion Corporation is an independent power producer that develops, builds, owns and operates utility-scale solar power generation plants. The Company owns 139 MW of installed solar capacity in Italy, Chile and Japan. Etrion has 34 MW of solar projects under construction in Japan and is also actively developing additional greenfield solar power projects in Japan. The Company is listed on the Toronto Stock Exchange in Canada and the NASDAQ OMX Stockholm exchange in Sweden under ticker symbol “ETX”. Etrion’s largest shareholder is the Lundin family, which owns approximately 24% of the Company’s shares directly and through various trusts.
For additional information, please visit the Company’s website at www.etrion.com or contact:
Paul Rapisarda – Chief Financial Officer
Telephone: +1 786 636 6449
Etrion discloses the information provided herein pursuant to the Swedish Securities Market Act and applicable Canadian securities legislation. The information was submitted for publication at 08:05 Central European Time (CET) on September 13, 2016.
Forward-Looking Information:
This press release contains certain “forward-looking information”. All statements, other than statements of historical fact, that address activities, events or developments that Etrion believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the possible sale of Etrion’s Italian solar portfolio and its asset portfolio in Japan). This forward-looking information reflects the current expectations or beliefs of Etrion based on information currently available to it as well as certain assumptions (including assumptions as to the ability of Etrion to expand its project portfolio in Japan). Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause actual results to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Etrion. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the risks that Etrion may not be able to conclude the sale of all or any portion of its Italian portfolio on commercially advantageous terms or at all, Etrion may not be able to obtain all applicable permits for the development of its Japanese development projects, Etrion may not be able to obtain the necessary financing for such projects on economic terms and the development costs for such projects may be higher than anticipated .
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Etrion disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although Etrion believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty thereof.