Oct 30 (Reuters) - Polaris Infrastructure Inc PIF.TO :
* POLARIS INFRASTRUCTURE ACQUIRES UNION ENERGY GROUP CORP.
* PURCHASE CONSIDERATION CONSISTS OF:AT CLOSING: 600,000 COMMON SHARES OF COMPANY ("SHARES") (APPROXIMATELY 3.7%)
* PURCHASE CONSIDERATION CONSISTS OF OVER TWO-YEAR PERIOD POST-CLOSING: 300,000 WARRANTS EXERCISABLE AT A 20% PREMIUM TO CLOSING SHARE PRICE
* POLARIS - PURCHASE CONSIDERATION ALSO INCLUDES UPON COMPLETION OF CONSTRUCTION OF GENERACIÓN ANDINA PROJECTS: 600,000 SHARES, $396,000 IN CASH;
* PURCHASE CONSIDERATION CONSISTS OF FUNDAMENTAL RESTRUCTURING OF EXISTING GENERACIÓN ANDINA PROJECT DEBT
* POLARIS - AGREES TO INVEST CAPITAL FOR GENERACIÓN ANDINA PROJECT COMPLETION;WILL RECEIVE 15% ANNUAL "PREFERRED" RETURN FOR PROJECT-LEVEL CASH FLOWS
* POLARIS - ANTICIPATED THAT GENERACIÓN ANDINA PROJECTS AND TRANSMISSION LINE WILL REQUIRE NET ADDITIONAL CAPITAL INVESTMENT OF $35 MILLION
* POLARIS -CERTAIN VENDORS TO RECEIVE ADDITIONAL COMMON SHARES OF CO IF,AFTER FIRST 2 YEARS OF COMMERCIAL OPERATION, GENERACIÓN ANDINA PROJECTS HAVE EXCEEDED TARGETED LEVELS OF GENERATION
* POLARIS INFRASTRUCTURE - A MAXIMUM OF ABOUT 970,000 ADDITIONAL SHARES OF CO WOULD BE ISSUED TO CERTAIN VENDORS, WERE GENERATION TO ACHIEVE TOP END OF TARGET RANGE