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Provider: Reuters Investment Profile
$20.00
Provider: GlobalData
$125.00
Provider: GlobalData
$125.00
Provider: GlobalData
$125.00

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Lignol Energy Corp to acquire 100 pct of Territory Biofuels Limited


Monday, 13 Jan 2014 11:29am EST 

Lignol Energy Corp:Says it has agreed to acquire all of the outstanding and issued ordinary shares of Territory Biofuels Limited (TBF) and thereby increase its ownership of TBF from 55 pct to 100 pct.Says TBF owns the biodiesel plant in Australia with an annual capacity of 140 million liters with plans to re-start operations in the second half of 2014.Says its offer to acquire all of the 4,771,367 outstanding ordinary TBF shares owned by other TBF shareholders, in exchange for the issue of 2.5 LEC common shares for each TBF ordinary share, will result in the issue of an additional 11,928,419 common shares of LEC.Says closing of this acquisition is expected to be completed on or before Jan. 31, 2014, at which time TBF will become a wholly owned subsidiary of LEC. 

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25 Aug 2014