DGAP-News: Greenwave Bio Limited signs Memorandum of Understanding to acquire 49% of Clean Green Biofuel LLC
(firmenpresse) - DGAP-News: Greenwave Bio LTD / Key word(s): Letter of Intent
Greenwave Bio Limited signs Memorandum of Understanding to acquire 49%
of Clean Green Biofuel LLC
28.10.2011 / 17:00
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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
Greenwave Bio Limited (ISIN GB00B688NW04, WKN A1CTRX, 3G0) is a company
incorporated in England focusing on the development of biodiesel and
biofuel power plants, the acquisition of power plants and technologies, and
marketing or commercialization of new technologies globally. Greenwave Bio
Limited is admitted to trading on the Frankfurt Stock Exchange's Entry
Standard (Open Market) under symbol '3G0' ('Three' 'Gee' 'Zero').
http://www.greenwavebio.com
About FSE Listings Inc
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:
This press release is solely for informational purposes and does not
constitute an an offer to sell or a solicitation of an offer to buy any
securities of GWB. No regulatory authority has approved the press release.
This press release contains forward-looking statements. Forward-looking
statements are not statements of historical fact and reflect the current
assessments, views, assumptions and beliefs made by GWB or its officers
according to the information available as of the date of this press release
about future events, operating performance, financial condition, business
strategy, GWB's plans and objectives for future operations and the industry
in which it operates. Forward-looking statements are subject to known and
unknown risks, uncertainties and other factors which may cause actual
outcomes to differ materially from those suggested in this press release.
GWB undertakes no obligation to publicly update or review any
forward-looking statement, whether as a result of new information, future
events or developments or otherwise. All subsequent written and oral
forward-looking statements attributable to GWB and those acting on its
behalf, are expressly qualified in their entirety by the foregoing.
Enquiries to:
Cameron Brady
Frankfurt Stock Exchange Listings
Cameron(at)FSEListings.com
+19146133889
End
End of Corporate News
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144038 28.10.2011
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Datum: 28.10.2011 - 17:00 Uhr
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News-ID 81531
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