Calgary, Alberta / TheNewswire / March 28, 2018 - P Squared Renewables Inc. (TSXV: PSQ.P) ("P Squared" or the “Company”) is pleased to advise that it has signed a Memorandum of Understanding regarding a proposed business combination (the “Transaction”) with an arms-length, privately owned business in the Clean Energy Generation Sector.  The Transaction, which is subject to various conditions, is intended to meet the requirements of the Company’s Qualifying Transaction pursuant to Policy 2.4 of the TSX Venture Exchange (the "TSXV").

Trading of the common shares of P Squared is halted and will remain halted until the documentation required by the TSXV in connection with the Qualifying Transaction has been reviewed and accepted by the TSXV.

Disclaimers and Forward-Looking Statements

This news release includes forward-looking statements. When used in this document, words such as “intends”, “plans”, “anticipates”, “expects” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized.  Any number of factors can cause actual results to differ materially from those in the forward-looking statements.  Certain risk factors currently facing the Company are described in P Squared’s Interim Financial Statements for the 9-month period ended December 31, 2017 and Management’s Discussion and Analysis thereon, which have been filed electronically by means of the System for Electronic Document Analysis and Retrieval ("SEDAR") located at www.sedar.com.    

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and, if applicable pursuant to the requirements of the TSXV, 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 Filing Statement to be prepared and which will be filed on SEDAR 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.

 

NEITHER THE 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.

For further information regarding this News Release or the Transaction, please contact:

Shabir Premji

Executive Chairman

P Squared Renewables Inc.

Telephone: 403- 870-1841

Email: spremji@p2renewables.com

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES