Update on KAQUO Canadian Forestry Joint Venture
Active Energy Group Plc (AIM: AEG.L), the London Stock Exchange AIM-quoted international supplier of industrial wood chip for MDF manufacturing and Biomass for Energy (BFE) power generation, global forestry and natural resources development services, and Biomass for Energy (BFE) fuel solutions and systems, announces that, further to its announcement dated 17 June 2015, it has been informed by the Ministry of Aboriginal Relations of Alberta that its investigation into the three Métis Settlements handling of their participation in the Group’s KAQUO Forestry & Natural Resources Development Corporation (KAQUO) joint venture is still on-going.
However, the Ministry again confirmed in writing that the management, administration and operation of AEG are not under investigation.
Richard Spinks, CEO of Active Energy Group, commented: “Whilst we share in everyone’s frustration at the delays in finalising the investigation, the Board of AEG and our Métis partners in the KAQUO joint venture remain confident in receiving a positive outcome in the near future.”
“A number of high-level meetings are anticipated in Alberta over the coming days which will represent important steps in securing government support for the major inward investment that KAQUO will be bringing to the province, and in finalising the due diligence process conducted by our international investment partner. I look forward to updating our shareholders as soon as possible thereafter.”