ALPHA PROSPECTS PLC
(“Alpha” or the “Company”)
Active Energy Update
Update on Canadian Forestry Joint Venture
Alpha Prospects Plc, the investment management company listed on the GXG Exchange, focussed on companies with fast growth and/or recovery prospects, is pleased to inform shareholders of an update issued by its investee company Active Energy Group Plc (AIM: AEG.L):
“Active Energy Group Plc, the London Stock Exchange AIM-listed international supplier of industrial wood chip and timber, Biomass for Energy (BFE) fuel products, and forestry asset development services, announced that it has received written confirmation from the Ministry of Aboriginal Affairs of Alberta, Canada that the report into possible breaches of the Métis Settlements Act by AEG’s Métis partners in its KAQUO Forestry & Natural Resources Development Corporation (KAQUO) joint venture will be issued within the next four weeks.
As stated in the Group’s Annual Report for the year ended 31 December 2014, issued on 8 June 2015, the Board of AEG remains confident in the legal validity and commercial potential of the KAQUO joint venture, and is confident that initial funding by the selected investor will be in place in H2:2015.
Richard Spinks, Active Energy Group CEO, commented:
“We are extremely grateful to the Government of Alberta for finally confirming when the enquiry will be completed.
“The Métis people have a long and honourable history, and I have every confidence that the KAQUO joint venture will allow the selected investor to imminently invest, which will enable the creation of hundreds of local jobs and empower the Métis Settlements of Northern Alberta to achieve financial independence and become proud contributors to Alberta’s economy… a goal that we share with Premier Notley and her new Government.”
Active Energy Group Plc is a London Stock Exchange AIM-listed company (AIM: AEG.L). Headquartered in the UK, it is a fast-expanding international business, which has experienced exceptionally strong growth and diversification into complementary industry sectors since the current management team assumed responsibility in mid-2012.
The Group has considerable expertise across the entire timber industry supply chain – from forest to finished product.
Its four specialist business divisions, which reflect its knowledge and experience and which work together to maximise commercial opportunities, focus on providing products and services to specific global market sectors:
· Forestry & Natural Resources Development and Management
· Wood Chip for Medium-Density Fibreboard (MDF) Manufacturing
· Wood Chip for Biomass for Energy (BFE) Power Generation
· Second Generation Biomass for Energy (BFE) Fuel Solutions and Systems
In addition to its existing activities, the Group is actively developing innovative Biomass fuel solutions, converting waste wood and industrial/agricultural by-products into feedstock for clean energy power generation as a direct replacement for coal.
The Company has grown significantly in recent years, and has established a firm foundation, excellent reputation and international customer base upon which to build for the future.”
Company website: www.active-energy.com