PHILADELPHIA, Feb. 25, 2014 /PRNewswire/ -- Pardee Resources
Company (OTC: PDER) (the "Company") is pleased to announce that its
subsidiary, Encap Solar AZ 2 LLC, recently closed on a $10.8 million acquisition of a 2.8 MW portfolio,
comprising 10 solar photovoltaic systems in Arizona. In
addition to providing significant tax benefits, this investment was
accretive to earnings upon closing. This acquisition further
diversifies the Company's renewable energy portfolio, which now
includes solar photovoltaic systems in New Jersey, California and Arizona.
In addition to historical statements, this press release
contains statements relating to future events and our future
results. These statements are "forward-looking" statements within
the meaning of the Private Securities Litigation Reform Act of
1995, and include statements that relate to impact of the
acquisition described above. While these forward-looking
statements represent our judgments and future expectations
concerning our business, a number of risks, uncertainties and other
important factors could cause actual developments and results to
differ materially from our expectations. These factors include, but
are not limited to: difficult economic conditions, the possibility
of increased or adverse government regulation, and
the risk that the systems may not be as we currently expect,
and other risks and uncertainties. As a result, these
forward-looking statements may turn out to be incorrect.
We are under no obligation to (and expressly disclaim any
obligation to) update or alter these forward-looking statements
whether as a result of new information, future events or
otherwise.
SOURCE Pardee Resources Company
