AsiaPac Capital Targets New Mini Hydro Project on Dicapan River
Toronto, Canada - (For immediate release) - March 6, 2011
AsiaPac Capital Services Ltd.: Deutsche Börse symbol: 5AP. (www .asiapaccapital.ca), announced today it has submitted a request to the Department of Energy to develop an additional mini-hydro station on the Dicapan River. The location will be in Berangy Mabalite, Tadian, Mountain Province.
Preliminary plans foresee developing a 3MW facility. The DOE has advised the Company that the submission documents for the Renewable Energy Contract application are complete.
Project consultant Vergel3 Consult has provided a preliminary projection of USD $7.5 million as the cost to build the installation as well as income of approximately USD $1million annually, resulting in a roughly 7-8 year payback on the investment.
The DOE also advised that in view of the ongoing harmonization of guidelines, rules and regulations may possibly delay the awarding of the actual contract, although this harmonization will not interfere with the evaluation of the legal, technical and financial capabilities.
Disclaimer&Safe Harbor Statement: This release may contain certain 'forward-looking statements' with respect to certain of AsiaPac Capital Services Ltd.'s plans, goals and expectations regarding its future financial condition, performance, results, strategy and objectives. Words such as 'anticipates', 'expects', 'intends', 'plans', 'believes', 'seeks', 'estimates', 'may', 'could', 'would', 'might', 'will' and variations of these words or similar expressions are intended to
identify forward-looking statements. In addition, any statements that refer to expectations, beliefs, plans, projections, objections, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements in this press release are not promises or guarantees of future performance and are subject to risks and uncertainties that could cause AsiaPac Capital Services Ltd.'s actual results to differ materially from those anticipated. AsiaPac Capital Services Ltd. cautions the reader not to place undue reliance upon any such forward-looking statements. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed herein as well as the following: (i) domestic and global economic and business conditions; (ii) market related risks and the performance of financial markets generally; (iii) the policies and actions of regulatory authorities; (iv) the impact of competitive factors; (v) risks and uncertainties associated with future acquisitions or combinations within relevant industries; and (vi) changes in capital, solvency or accounting standards as well as tax and other relevant legislation or regulations in the jurisdictions in which AsiaPac Capital Services Ltd. operates. The actual results that AsiaPac Capital Services Ltd. achieves may differ materially from any forward-looking statements which are based on management's beliefs and opinions at the time the statements are made. AsiaPac Capital Services Ltd. does not undertake any obligation to update forward-looking statements should circumstances or management's beliefs or opinions change.
For further information please contact:
AsiaPac Capital Services Ltd. Suite 3500 Hudson Bay Center No. 2 Bloor Street East Toronto ON M4W 1A8 Email: info(at)asiapaccapital.ca investor(at)asiapaccapital.ca
07.03.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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