Biotechnology Company to Acquire Retail Supplier

Prairie Plant Systems, a Canadian biotechnology company, would acquire a U.S. retail supplier under a proposed transaction filed at FERC.

Specifically, Prairie Plant Systems, through a subsidiary, would acquire UP Power Marketing LLC, a retail power marketer in Michigan, as well as affiliate White Pine Electric Power LLC, an exempt wholesale generator.

Prairie Plant Systems is privately held by institutional investors and individual investors. Only two investors own a 10% or greater direct or indirect equity interest in PPS -- Golden Opportunities Fund Inc. and PFM Capital Inc.

Golden Opportunities owns an approximately 22% equity interest in PPS. Golden Opportunities is Saskatchewan’s first provincial labor-sponsored investment fund.

PFM owns an approximately 16% equity interest in PPS. PFM is an employee-owned investment management firm, focused on private equity investment in Western Canada and Saskatchewan in particular.

Neither Prairie Plant Systems nor any of its affiliates currently owns or controls any generating capacity in the U.S.

Under the transaction, Prairie Plant Systems, through a subsidiary, would acquire 100% of UP Power Marketing LLC and White Pine Electric Power.

After the transaction, TPG Power Holdings LLC, a wholly owned subsidiary of the current owners of UP Power Marketing LLC and White Pine Electric Power, will receive less than 10% of the shares of Prairie Plant Systems