Alter NRG Corp. sale or investor solicitation process

INTRODUCTION

MNP Ltd. in its capacity as Receiver (the “Receiver”) of Alter NRG Corp. (the “Company”) is conducting a sale process for the assets of the Company.

The Company was headquartered in Calgary, Alberta where it provided alternative energy solutions. The Company sold its Westinghouse Plasma Gasification Technology through a wholly owned subsidiary called Westinghouse Plasma Corp. The proprietary plasma gasification technology was used to convert biowaste into renewable energy solutions including liquid fuels, electrical power and syngas. On March 27, 2015, the Company was acquired by Harvest International New Energy through its wholly owned subsidiary, 1030629 B.C. Ltd. The Receivership proceedings were initiated on April 29, 2021.

In our capacity as Receiver, we are soliciting offers to purchase the Company’s proprietary Plasma Gasification Technology. Further information including a comprehensive list of patents available for sale can be made available upon receipt of an executed confidentiality agreement.

LIMITATIONS

To facilitate this process, we have prepared a Confidential Information Memorandum (“CIM”). All information in the CIM has been prepared solely for the convenience of prospective purchasers and has not been audited or otherwise verified by the Receiver

The Receiver does not make any representations or warranties as to the accuracy or completeness of the CIM and shall have no liability for any representations (be they expressed or implied) or omissions contained herein nor in any other written or oral communications transmitted to prospective purchasers in the course of the evaluations of the assets. Furthermore, the information provided in the CIM may not contain all of the information a prospective purchaser may require and therefore, prospective purchasers should conduct their own investigations, analysis and due diligence relating to the Company’s assets and any of the information contained in the CIM.

TIMELINE

ALTER NRG CORP.

SALE OR INVESTOR SOLICITATION PROCESS

SALES PROCESS

The Receiver has formulated specific transaction procedures that are included in the Terms and Conditions of Sale included in the CIM. However, the Receiver reserves the right to:

• Amend or terminate the sales procedures during the sales process.
• Accept an Offer to Purchase that may not necessarily be the highest bid.
• Negotiate with one or more prospective purchasers at any time.
• Set a minimum offer price for the assets.
• Enter into a definitive transaction agreement without prior notice to other prospective purchasers at any time during the transaction process.
• Not accept any offer to purchase.

Please note that any offer the Receiver accepts may be subject to the approval of the Court of Queen’s Bench of Alberta, and accordingly, is not binding on the Receiver until such Court approval has been obtained.

To receive a copy of the CIM and access to the electronic data room, please request a non-disclosure agreement(“NDA”) from the Receiver at:

MNP Ltd.in its capacity as Receiver of Alter NRG Corp.

Canada Ltd.

1021 West Hastings Street

Suite 1600 – MNP Tower

Vancouver, BC

V6E 0C3

Tel: 778-372-5384

Email: Seamus.Boyle@mnp.ca

Offers to Purchase along with a certified cheque, wire transfer or money order deposit must be received by the Receiver no later than 5:00pm (Mountain Time) on August 30, 2021.