Territory Biofuels Limited announced that it has received AUD 1 million in funding from Lignol Energy Corporation.
July 31, 2013 at 05:00 am
Territory Biofuels Limited announced a private placement of 2,670,000 shares at a price of AUD 0.3745 for gross proceeds of AUD 1,000,000 with existing investor Lignol Energy Corporation on May 27, 2013. Upon completion, Lignol Energy Corporation will become the majority shareholder with approximately 56% of the issued shares of TBF and 60% on a fully diluted basis.
In July 2013, Territory Biofuels Limited closed the transaction. The investor aproximately holds shareholding of 87% non-diluted and 86% on a fully diluted basis in the company.