Home Americas BRIEF-OneRoof Energy Group says unit to sell solar project assets for US$8 mln
BRIEF-OneRoof Energy Group says unit to sell solar project assets for US$8 mln

BRIEF-OneRoof Energy Group says unit to sell solar project assets for US$8 mln

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OneRoof Energy Group Inc:

* OneRoof Energy announces agreement to sell solar project assets

* Deal for an aggregate purchase price of US$8 million in cash

* Transaction was entered into as part of company’s previously-announced wind down process, which is ongoing

* Expects that substantially all of net proceeds from transaction will be used to pay solar project-related expenses

* About US$1.8 million of net proceeds of transaction will be used to repay principal, accrued interest on loan from new resource bank

* Does not anticipate deal nor any other deal that co may enter into will generate sufficient funds to pay claims of creditors

Source:reuters

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Anand Gupta Editor - EQ Int'l Media Network

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