Alternus Energy Inc. (fka ALTND)

[02opida]

Roberto Forlani, CEO, and Vincent Browne, CFO, will discuss the recent developments in the business following a shift in business strategy during 2016 to move from focusing solely on developing PV solar projects from green field to also acquiring connected and operational solar parks internationally that deliver immediate positive income streams on acquisition.

As part of this strategy PWCL has completed Letters of Intent for the acquisition of up to 36MW of operational Solar parks in Italy, and has agreed terms for $48 million in senior and mezzanine debt to purchase the first 12MW portfolio of these projects. Closing of these acquisitions is dependent on successful due diligence, which is ongoing and expected to complete in October, signing of definitive agreements and PWCL successfully raising the project equity required. Successful completion of the first portfolio will see annual revenues grow from $1 million per year to over $7 million per year with an average of 85% cash EBITDA.

The Company has also filed an updated Corporate Profile with OTC markets, that outlines the current business overview and growth strategy and can be found at the following link http://www.otcmarkets.com/financialReportViewer?symbol=PWCL&id=160809