Active Energy Group PLC Final Application to Crown Province, Newfoundland (3721T)

TIDMAEG

RNS Number : 3721T

Active Energy Group PLC

12 October 2017

Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy

12 October 2017

Active Energy Group Plc ('Active Energy' or 'the Group')

Submission of Final Application to the Crown Province of Newfoundland and Labrador

Active 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.

The 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.

Michael 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."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

**ENDS**

Enquiries & Further Information:

 
 Website                 LinkedIn 
----------------------  -------------------------------------- 
 www.active-energy.com   www.linkedin.com/company/activeenergy 
----------------------  -------------------------------------- 
 
 
 Enquiries 
----------------------------------------------------------------------------- 
 Active Energy        Michael Rowan                  [e-mail] 
  Group Plc            Non-Executive Chairman 
-------------------  -------------------------  ----------------------------- 
                      Richard Spinks                [e-mail] 
                       Chief Executive Officer 
-------------------  -------------------------  ----------------------------- 
                      Brian Evans-Jones          [e-mail] 
                       Chief Financial Officer 
-------------------  -------------------------  ----------------------------- 
 Northland Capital    Patrick Claridge/David                Office: +44 (0)20 
  Partners Limited     Hignell/Gerry Beaney                         3861 6625 
  Nominated Adviser    (Corporate Finance) 
  & Broker             John Howes/Rob Rees 
                       (Sales & Broking) 
-------------------  -------------------------  ----------------------------- 
 St Brides Partners   Isabel de Salis/Megan       [e-mail] 
  Financial PR         Dennison                               Office: +44 (0) 
  Adviser                                                        20 7236 1177 
-------------------  -------------------------  ----------------------------- 
 

About Active Energy Group

Active Energy Group Plc (AIM: AEG.L) is a London Stock Exchange-listed international renewable energy business based upon forestry assets. Its model is focussed on capturing the entire forestry value chain through sourcing, utilising and commercialising assets, and setting a new standard in the sustainable management and optimisation of timber resources. The Company is led by a highly technical and commercial team with the experience to execute its defined growth strategy and build its visibility, primarily as a London-listed timber opportunity with a revolutionary biomass fuel technology. It has two affiliate companies formed being:

-- Advanced Biomass Solutions Plc (www.abs-plc.com), which is commercialising a revolutionary biomass coal replacement fuel, CoalSwitch(TM); and

   --    Timberlands International Ltd, a sustainable international forestry management business. 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCGGGCWUUPMGQG

(END) Dow Jones Newswires

October 12, 2017 02:00 ET (06:00 GMT)