Earlier
today, Pan Global announced that it now holds a greater equity stake in Regency
Yamuna Energy Limited (“RYEL”), a privately-held India corporation
commissioning a 5.7 MW small-hydro project in northern India (“Project
Badyar”), as part of the previously announced Stock Purchase Agreement, dated
October 23, 2013, with RYEL and the RYEL Selling Stockholders.
In the
press release issued, the company reported a total investment of $463,992 in
RYEL for an aggregate of 1,965,640 RYEL common shares, representing
approximately 9.93% of the outstanding equity.
The
proceeds of this closing will be applied to Step Two of the First Closing under
the Stock Purchase Agreement. Under the Agreement, Pan Global, through its
wholly-owned subsidiary, Pan Asia Infratech Corp., has agreed to acquire 100%
of the outstanding equity and convertible debt (if not previously converted) of
RYEL on a staggered basis, subject to the terms and conditions as stated in the
agreement.
For more
information on this stock purchase agreement, view reports filed with the SEC
at www.sec.gov
To learn
more about Pan Global, visit www.panglobalcorp.com
About QualityStocks
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net
No comments:
Post a Comment