Sprott Power Provides Management Transition Update

TORONTO, Feb. 1, 2013 /CNW/ - Sprott Power Corp. (TSX:SPZ) (the 
"Corporation") announces that it has appointed one of its independent 
directors, Glen Estill, to serve as the Corporation's Lead Director during the 
period of transition. 
To assist with the transition to internalization of the Corporation's 
management disclosed earlier this week, John Varghese, Chairman of the Board 
of Directors of the Corporation (the "Board"), has been asked to assist more 
directly in the previously announced Strategic Review process and the 
internalization of management transition. During this time, Mr. Estill, a 
current director of the Corporation, will be tasked with providing effective 
independent leadership of the Board of Directors. Mr. Estill will ensure that 
the Board's current agenda and duties will be successfully carried out on 
behalf of the shareholders. In addition, Mr. Estill will assist in the 
internalization of management transition. 
"We are pleased that Mr. Estill has agreed to step into the role of Lead 
Director during this critical juncture in the Corporation's evolution," said 
Jeffrey Jenner, Director, President and Chief Executive Officer of the 
Corporation. 
Mr. Estill is an experienced developer of wind construction projects, with a 
strong understanding of Ontario's electricity system and policy environment. 
He has over 25 years experience in management positions including 5 years as 
CFO and Vice President of a public company, EMJ Data Systems. Mr. Estill holds 
his Bachelor of Economics and Master of Business Administration from the 
University of Western Ontario. 
Mr. Jenner continues in his role as the Corporation's President and Chief 
Executive Officer. The Board is confident in Mr. Jenner's abilities and is 
pleased that he is continuing as President and Chief Executive Officer of the 
Corporation. Sprott Power Consulting LP ("SPCLP"), the outsourced management 
firm on which the Corporation has been relying for management services, 
asserts that the employees of SPCLP, including Mr. Jenner, who are providing 
services to the Corporation under the management services agreement between 
the Corporation and SPCLP, are subject to non-compete covenants under the 
terms of their employment with SPCLP. As a result, there is an issue as to 
whether the employees can work for the Corporation after the management 
services agreement is terminated or their employment is terminated by SPCLP. 
The Corporation questions the enforceability of these covenants. In any 
event, the Corporation is confident that it will be able to ensure that the 
services provided by SPCLP are performed after the period of transition. 
The Corporation also announces the appointment of Mary Lou McDonald as 
Corporate Secretary to the Corporation. Ms. McDonald has been acting as legal 
counsel to the Corporation since joining over one year ago. Ms. McDonald has 
previously served as General Counsel and Corporate Secretary for Algonquin 
Power & Utilities Corp. 
The Corporation also announces that it is taking steps to change its name. 
About Sprott Power Corp.
The Corporation is a Canadian based public company dedicated to the 
development and financing of renewable energy projects. Through acquisitions, 
partnerships and joint ventures, the Corporation seeks to provide its 
shareholders with exposure to the power generation sector. For more 
information on the Corporation's website at www.sprottpower.com. 
Forward-Looking Statements
Certain information contained in this press release may constitute 
"forward-looking information" which reflects the current expectations of the 
Corporation, including its ability to complete its co-development agreements 
and the development of its projects, to effect a smooth transition from 
outsourced management to internalized in-house management, and to carry out 
the strategic review process. This information reflects the Corporation's 
current expectations with respect to future events and is based on information 
currently available to the Corporation. Forward-looking information involves 
significant known and unknown risks, uncertainties and assumptions. Many 
factors could cause actual results, performance or achievements to be 
materially different from any future results, performance or achievements that 
may be expressed or implied by such forward-looking information including, 
without limitation, the risks listed under the heading "Risk Factors" in the 
Corporation's Annual Information Form dated March 26, 2012. Should one or more 
of these risks or uncertainties materialize, or should assumptions underlying 
the forward-looking information prove incorrect, actual results, performance 
or achievements could vary materially from those expressed or implied by the 
forward-looking information contained in this release. Although 
forward-looking information contained in this release is based upon what the 
Corporation believes to be reasonable assumptions, the Corporation cannot 
assure investors that actual results, performance or achievements will be 
consistent with this forward-looking information. The forward-looking 
information is made as of the date of this release and the Corporation does 
not assume any obligation to update or revise it to reflect new events or 
circumstances, except as required by law. 
Jeff Jenner President and Chief Executive Officer Sprott Power Corp. O: 
416-943-6387 C: 647-993-9925 
John Varghese Chairman of the Board of Directors Sprott Power Corp. O: 
416-681-6371 C: 416-706-2312 
SOURCE: Sprott Power Corp. 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/February2013/01/c2367.html 
CO: Sprott Power Corp.
ST: Ontario
NI: FIN 2575 WNEWS  
-0- Feb/01/2013 12:32 GMT
 
 
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