Business
Final Application to Crown Province, Newfoundland
Final Application to Crown Province, Newfoundland.
About this update from Active Energy Group Plc
[{"type":"text","content":"\n \nRNS Number : 3721T Active Energy Group PLC 12 October 2017 \n\nActive Energy Group Plc / EPIC: AEG / Sector: Alternative Energy\n12 October 2017 \nActive Energy Group Plc ('Active Energy' or 'the Group')\nSubmission of Final Application to the Crown Province of Newfoundland and Labrador\n \nActive 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. \nThe 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.\n \nMichael 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.\"\n \nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.\n**ENDS**\n \nEnquiries & Further Information:\n \n\n\n\n\nWebsite\n\n\nLinkedIn\n\n\n \n\n\n\n\nwww.active-energy.com\n \n \n\n\nwww.linkedin.com/company/activeenergy\n \n\n\n \n\n\n\n\n \n\n\n\n\nEnquiries\n...