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  • Pan Global Corp. (PGLO) Enters Finance Agreement For First Closing Of Small Hydro Plant Acquisition 0 comments
    Nov 5, 2013 10:30 AM | about stocks: PGLO

    Pan Global today announced its entrance into a loan agreement with its long-time lead financier, Anatom Associates S.A. The agreement is for up to USD$1.0 million in non-convertible 8% debt. PGLO will use part of this financing to fund the first set of closings on its planned acquisition of 100% of the outstanding shares and convertible debt of Regency Yamuna Energy Limited (RYEL). RYEL is a privately held Indian corporation that is building a 5.7 MW small-hydro project in India. The project is currently valued at around USD$11.0 million.

    PGLO will now be able to complete the initial financing of this target acquisition as previously disclosed in its Stock Purchase Agreement, dated October 28, 2013, between its wholly owned subsidiary, Pan Asia Infratech Corp., RYEL, and RYEL shareholders. It will also be able to begin funding the first set of closings with 40.0 million Rupees (Rs. 40,000,000) (approximately USD$655,738), a portion of which will enable RYEL to complete the project's construction and enable the project to be connected to the power grid.

    PGLO's management commented, "Anatom has been a lender to PGLO for close to a year and with this Finance Agreement, continues to support its business plan. We continue to develop our financing plan, and we remain optimistic that ongoing discussions with Anatom and other investors will result in acquiring the balance of RYEL."

    PGLO is a company that pursues global investment opportunities in green energy technology and energy assets. It is focused on the sectors of alternative energies, sustainable solutions, and energy efficiency.

    More information about its finance agreement and initial financing can be found in its Form 8-K, available at: www.sec.gov/Archives/edgar/data/1492617/....htm

    More information regarding PGLO can be found at: panglobalcorp.com

    QualityStocks provides investor relations services to publicly traded companies in exchange for compensation. This article may be part of our efforts to widen a client's exposure. To read our full disclaimer, visit http://disclaimer.qualitystocks.net

    Stocks: PGLO
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