Analyst Research

Report Title Price
Provider: Wright Reports
$75.00
Provider: Reuters Investment Profile
$20.00
Provider: Thomson Reuters Stock Report
$25.00
Provider: GlobalData
$250.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Lignol Energy Corp Announces Private Placement Of Up To CAD2.4 Million And Acquisition Of 11% Equity Stake In Australian Renewable Fuels From Wasabi Energy Limited


Tuesday, 14 Aug 2012 08:00am EDT 

Lignol Energy Corp announced a non-brokered private placement of up to 30 million common shares of the Company at CAD0.08 per common share to raise up to CAD2.4 million together with the execution of a Share Purchase Agreement to acquire from Wasabi Energy Limited 275,000,000 ordinary shares of Australian Renewable Fuels Limited (ARW) for a total purchase price of CAD4,265,770. Difference Capital Funding Inc., who is making a CAD1 million direct investment in the Company. On the closing of the Share Acquisition, Wasabi will hold approximately 19.2% of the issued and outstanding common shares of the Company (approximately 29.1% after giving effect to the conversion of the Debenture (defined below), with interest on the Debenture paid in cash, and the exercise of all currently existing outstanding stock options).Consideration for the Share Acquisition of ARW shares from Wasabi will be comprised of CAD500,000 in cash, 19 million LEC common shares issued at CAD0.08 per share for CAD1,520,000 and a 10-month secured convertible debenture for CAD2,245,770 convertible into LEC common shares at CAD$0.15 per share. Other investors joining Difference Capital Funding Inc. in the Private Placement include Lignol management and Jace Ltd., a company headed by Stephen Morris. The Private Placement and the Share Acquisition are expected to close the week of August 20, 2012. 

Company Quote

0.195
-0.015 -7.14%
21 Jul 2014