In an announcement last week, “Alterra Power Corp. announces that it has repaid all C$22 million (US$23 million) owing under its credit facility from Ross Beaty, its Chairman and CEO, entered into in July 2010 and increased in December 2010.
A new credit facility on identical terms has been entered into allowing Alterra Power to borrow up to C$20 million at any time during the next 12 months for working capital or other purposes. At present, no borrowing against this facility is planned as the Company has adequate capital for all its planned 2011 activities.”
Source: Company release via PR Newswire
