GreenWave Bio LTD
Greenwave Bio Limited signs Memorandum of Understanding to acquire 49% of Clean Green Biofuel LLC
Greenwave Bio LTD / Key word(s): Letter of Intent Greenwave Bio Limited signs Memorandum of Understanding to acquire 49% of Clean Green Biofuel LLC On 28th October 2011, Greenwave Bio Limited (‘GWB’ or the ‘Company’) announced the signing of a Memorandum of Understanding (‘MOU’) for the acquisition of 49% of Clean Green Biofuel LLC by supplying the funding necessary to expand the 3.8 million liter Biofuel Plant in Constanta Romania to 8 million liters, the expansion for the purchase and refurbishing of target fuel stations near the Port, and advancement of the technology utilized in refining the recycled oils. Greenwave Bio Limited, under contract with FSE Listings Inc and partner IFXBG to source acquisition capital and targets, will collateralize Greenwave Bio Limited shares traded on the Frankfurt Stock Exchange under symbol ‘3G0’with the assets and revenue of Clean Green Biofuel LLC to form a corporate bond, AA rated, with a yield of 10%. The proposed bond is to finance operations and the acquisition for 2.5 million euro to 3.5 million euro. The current unaudited cash flows of Clean Green Biofuel LLC are capable of servicing the yield of the bond, and the expansion to ensure the repayment. Upon qualifying and supplying the due diligence documents for insurance of the Bond, the capital placement is expected to be in place within 60 days. ‘A corporate bond with AA rating and a yield of 10% in an EU Country such as Romania is attractive to financers, in addition, for the company who does not dilute the shares of the firm through toxic equity lines or stock purchase agreements. With this type of financing available, the only dilution is what is already in the market, which means the value is in the cash flow businesses we will continue to acquire large positions in such as Clean Green Biofuel LLC. Owning a portion of a producing biofuel plant is a milestone in the right direction for our firm. Especially recycled fuels, one of the only proven economic means of creating biofuels without utilizing feedstock. ‘ Neels Blignaut, Director of Greenwave Bio Limited ‘With over $2 million dollars in sales per annum unaudited, our firm is already an attractive buy-out opportunity within the EU. The additional capital of up to 2.5 million euro to expand our business can help take a 3.8 million liter plant to an 8 million liter plant inside of 3 months. The long term benefit of having the capital available to our firm today is why it makes fiscal common sense to go into an agreement with Greenwave Bio Limited. In addition, the opportunity to upgrade technology, acquire fuelling stations, and become part of a public entity traded on the Frankfurt Stock Exchange appeals to the founders of our firm.’ Gabriel Luca, CEO of Clean Green Biofuel LLC About Greenwave Bio Limited A global consulting firm specializing in listing companies on the Frankfurt Stock Exchange and providing comprehensive solutions to corporate financing, expansion, acquisitions, merger law, and the use of professional associates and partners to complete all facets of financing and running a public company. FSE Listings Inc is the one stop full service firm for companies listing on the Frankfurt Stock Exchange or looking for assistance and guidance in funding, listing, and public relations. http://www.fselistings.com About Clean Green Biofuel LLC CGF is a Romanian company that owns and operates the largest and newest biodiesel facility in Constanta County, Romania. Located just ten minutes from the Constanta Harbor (the largest commercial port in SE Europe) we are conveniently located to deliver product throughout the Southeast of the country. Clean Green Fuel Inc has an 3,8 million Liters per year production capacity that can respond to even large delivery requirements better than any other biodiesel producer. Using a proprietary process unique to the industry, CGF can create biodiesel from a wide variety of raw materials including chicken fat, yellow grease and soybean oil. Their primary base material is waste vegetable oil which produces a high grade, price-competitive biodiesel along with a glycerin by-product. The biodiesel meets or exceeds all U.S and European fuel standards. Blenders and distributors can count on CGF to deliver the same high quality fuel every time. CGF is positioned to become a major player in the recycling of WVO market within the EU, and also become an active and important producer of B100 biodiesel. Disclaimer: End of Corporate News 28.10.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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