Brief: Esrey signs non-binding Letter of Intent with Enablence Technologies

Enablence Technologies

08/12/2016 18:13

Dec 8 (Reuters) - Esrey Energy Ltd  EEL.V : 
    * Announces signing of a non-binding Letter of Intent with 
Enablence Technologies Inc. 
    * Upon completion of business combination, shareholders of 
Esrey are expected to own approximately 13.6% of pro forma 
company 
    * Says Esrey shareholders will receive approximately 2 
shares of Enablence for each share of Esrey owned 
    * Says upon completion of business combination, shareholders 
of Esrey are expected to own approximately 13.6% of pro forma 
company 
    * As per terms of LOI, completion of business combination is 
conditional upon Enablence raising minimum $4 million by way of 
private placement 
 
Source text for Eikon:  ID:nCCN8CQ4F3  
Further company coverage:  EEL.V  ENA.V  
 
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