Provided Content: Content provided by Baystreet. The Globe and Mail was not involved, and material was not reviewed prior to publication.
Stocks in play: Westbridge Renewable Energy Corp
Announced that it has closed the sale of its Vulcan County, Alberta solar power plant project with a capacity of up to 230MWac (278 MWdc), to a subsidiary of MYTILINEOS Energy & Metals (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) as announced on June 1 st , 2023 and June 5 th , 2023. The Transaction was completed by way of the sale of all the issued and outstanding shares of Georgetown Solar Inc. Westbridge satisfied the conditions for the Transaction, including regulatory approvals from the Alberta Utilities Commission (" AUC ") for the construction, operation, and interconnection of the Project to the Alberta Interconnected Electric System and the TSX Venture Exchange. The Company received C$47,564,002 at closing of the Transaction. MYTILINEOS paid 3% of the estimated base purchase price at signing and 92% of the estimated purchase price was paid at closing. The balance of the purchase price is expected to be paid when the Project reaches commercial operations. Westbridge Renewable Energy Corp shares V.WEB are trading up 15 cents at $1.19.
