Brief: Canada Growth Fund Announces Strategic Investment In Entropy Inc. And Carbon Credit Offtake Commitment

Advantage Energy

21/12/2023 18:10

Dec 21 (Reuters) - Advantage Energy Ltd  AAV.TO :
    * CANADA GROWTH FUND ANNOUNCES STRATEGIC INVESTMENT
IN ENTROPY
INC. AND CARBON CREDIT OFFTAKE COMMITMENT
    * ADVANTAGE ENERGY - CGF AGREED TO $200 MILLION INVESTMENT
IN
ENTROPY COUPLED WITH FIXED-PRICE CARBON CREDIT PURCHASE DEAL OF
UP TO 1 MILLION TONNES PER ANNUM
    * ADVANTAGE ENERGY:BROOKFIELD TO CONTINUE TO INVEST BALANCE
OF
EXISTING $300 MILLION HYBRID SECURITY INTO BUSINESS,TO BE
LARGEST SHAREHOLDER,CONTROL ENTROPY
    * ADVANTAGE ENERGY LTD - INITIAL ALLOCATION OF CCO
COMMITMENT WILL
ALLOW ENTROPY TO PROCEED WITH ITS GLACIER PHASE 2 PROJECT
    * ADVANTAGE ENERGY - CGF TO GIVE LONG-TERM, FIXED-PRICE CCO
IN
COMPLIANCE CARBON MARKET, COMMITTING TO BUY UP TO 1 MILLION TPA
OF CARBON CREDITS FOR 15 YRS
    * ADVANTAGE ENERGY LTD - BALANCE OF REMAINING CCO WILL BE
AVAILABLE FOR ENTROPY TO UNDERWRITE ADDITIONAL THIRD-PARTY
PROJECTS ON SIMILAR TERMS IN CANADA
    * ADVANTAGE ENERGY LTD - CGF WILL NOMINATE ONE MEMBER TO
ENTROPY
BOARD OF DIRECTORS
    * ADVANTAGE ENERGY LTD - ADVANTAGE AND BROOKFIELD WILL
RETAIN
THEIR EXISTING ENTROPY BOARD REPRESENTATION

Source text for Eikon:  ID:nGNX9qBGj8 
Further company coverage:  AAV.TO 

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