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Anergy Signs Letter of Intent to Acquire AllcoGreen Corp. as its Qualifying Transaction
Anergy Signs Letter of Intent to Acquire AllcoGreen Corp. as its Qualifying Transaction
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[{"type":"text","content":"\n\n\n\n Oct. 6, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nVANCOUVER, Oct. 6 /CNW/ - Anergy Capital Inc. (the "Company" or "Anergy") (TSX Venture: ACA.P) has entered into a Letter of Intent dated September 30, 2010 (the "LOI") with AllcoGreen Corp. ("AllcoGreen"), a Delaware corporation with offices in Houston, Texas. AllcoGreen has contracted to purchase a large commercial building and construction management firm which had 2009 audited revenues exceeding $86 million, and has had a long history of earnings.\nAllcoGreen intends to expand on the existing business, in part by expanding on ecology positive initiatives, products and contracts within the existing business. One of the goals is for AllcoGreen to become a leading sustainable building and renewable energy project company. The requirement to save energy, mitigate environmental problems, and find economic solutions of doing so has fostered a wave of demand for sustainable construction and building innovation. AllcoGreen intends to leverage its success and add additional technologies and products to meet some of this demand in areas that are seeing signs of positive economic gain, such as the Houston area.\nThe LOI provides for Anergy to acquire all of the issued and outstanding shares of AllcoGreen in exchange for shares of Anergy (the "Transaction"). The number of Anergy shares to be issued at the closing of the Transaction has not been determined by the parties and i...