RNS out..23 Jul 2018 13:04
The Company also wishes to update shareholders regarding its proposed agreement with the Province of Newfoundland and Labrador, Canada that will provide the Company with a Crown Timber Licence and a Forestry Management Agreement.
The Company has now received a letter from the Government of Newfoundland and Labrador (the "Government") which confirms that Active Energy's proposal is in the final stages of review by the relevant governmental departments. The Government has confirmed that as this is the first application of its kind regarding the grant of a Forestry Management Agreement, it has provoked considerable interest and review from all those involved. The Government anticipates that this review period will be completed before month end following which the proposal will be submitted to Cabinet for final approval, which is currently expected during August 2018.
Active Energy continues to support the Government in its approval process and looks forward to providing shareholders with further updates as appropriate