Last checked at 12 Oct 2017 07:00
Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy
12 October 2017
Active Energy Group Plc ('Active Energy' or 'the Group')
Submission of Final Application to the Crown Province of Newfoundland and Labrador
Active Energy, the London quoted international forestry management and biomass based renewable energy business, is pleased to announce the submission of all final documents to the Ministry of Fisheries and Land Resources of the Crown Province of Newfoundland and Labrador (the 'Province') through its affiliate, Timberlands International Limited ('Timberlands' or 'TIL'), for a Crown Timber Licence ('CTL') and Forestry Management Agreements (the 'FMAs') on the Forestry Management Districts 17 and 18.
The submission, which follows over five months of co-ordination between Timberlands and the Canadian forestry consultancy company, Zimmfor Management Services Ltd, includes all requested documentation, including the proposed financial term sheets for the prospective FMAs. This exercise has involved detailed analysis from each of the relevant ministries in the Province. The application is in addition to rights conferred to the Group under an earlier agreement in principle between the Province and the Group which was announced on 22 May 2017.
Michael Rowan, Active Energy Non-Executive Chairman said, "This marks the next milestone for the development of commercial activities for TIL in Newfoundland. TIL and Active Energy are extremely excited about the prospect of revitalising the forestry activities on the Northern Peninsular, facilitating new investment into the Province and continuing to grow positive working relationships between the Province, its relevant ministries and TIL for the benefit of all. I look forward to providing shareholders with further updates regarding the applications for the CTL and the FMAs in due course."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
**ENDS**
Enquiries & Further Information:
Website |
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www.active-energy.com
| www.linkedin.com/company/activeenergy
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Enquiries | ||
Active Energy Group Plc
| Michael Rowan Non-Executive Chairman
| michael.rowan@aegplc.com
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Richard Spinks Chief Executive Officer
| richard.spinks@aegplc.com
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| Brian Evans-Jones Chief Financial Officer | brian.evans-jones@aegplc.com
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Northland Capital Partners Limited Nominated Adviser & Broker
| Patrick Claridge/David Hignell/Gerry Beaney (Corporate Finance) John Howes/Rob Rees (Sales & Broking) | Office: +44 (0)20 3861 6625 |
St Brides Partners Financial PR Adviser
| Isabel de Salis/Megan Dennison | info@stbridespartners.co.uk Office: +44 (0) 20 7236 1177 |
About Active Energy Group
Active Energy Group Plc (AIM: AEG.L) is a London Stock Exchange-listed international renewable energy business based upon forestry assets. Its model is focussed on capturing the entire forestry value chain through sourcing, utilising and commercialising assets, and setting a new standard in the sustainable management and optimisation of timber resources. The Company is led by a highly technical and commercial team with the experience to execute its defined growth strategy and build its visibility, primarily as a London-listed timber opportunity with a revolutionary biomass fuel technology. It has two affiliate companies formed being:
· Advanced Biomass Solutions Plc (www.abs-plc.com), which is commercialising a revolutionary biomass coal replacement fuel, CoalSwitch™; and
· Timberlands International Ltd, a sustainable international forestry management business.