Active Energy Group PLC Final Application to Crown Province, Newfoundland (3721T)
12 October 2017 - 5:00PM
UK Regulatory
TIDMAEG
RNS Number : 3721T
Active Energy Group PLC
12 October 2017
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 LinkedIn
---------------------- --------------------------------------
www.active-energy.com www.linkedin.com/company/activeenergy
---------------------- --------------------------------------
Enquiries
-----------------------------------------------------------------------------
Active Energy Michael Rowan michael.rowan@aegplc.com
Group Plc Non-Executive Chairman
------------------- ------------------------- -----------------------------
Richard Spinks richard.spinks@aegplc.com
Chief Executive Officer
------------------- ------------------------- -----------------------------
Brian Evans-Jones brian.evans-jones@aegplc.com
Chief Financial Officer
------------------- ------------------------- -----------------------------
Northland Capital Patrick Claridge/David Office: +44 (0)20
Partners Limited Hignell/Gerry Beaney 3861 6625
Nominated Adviser (Corporate Finance)
& Broker John Howes/Rob Rees
(Sales & Broking)
------------------- ------------------------- -----------------------------
St Brides Partners Isabel de Salis/Megan info@stbridespartners.co.uk
Financial PR Dennison Office: +44 (0)
Adviser 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(TM); and
-- Timberlands International Ltd, a sustainable international forestry management business.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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