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BRIEF-Kontrol Energy to buy up to 20 megawatts of solar energy power generation assets
May 4, 2017 / 8:51 PM / 4 months ago

BRIEF-Kontrol Energy to buy up to 20 megawatts of solar energy power generation assets

May 4 (Reuters) - Kontrol Energy Corp

* Kontrol Energy Corp. Enters into letter of intent to acquire up to 20 megawatts of solar energy power generation assets under the Ontario feed-in tariff program

* Kontrol Energy Corp - purchase price for acquisition of solar power generation assets is $31 million

* Kontrol energy corp - 80 percent of total purchase price will be paid by issuing to vendor units of kontrol

* Kontrol Energy Corp - for purchase price, each unit consisting of common share and one-quarter of a common share purchase warrant of kontrol

* Kontrol Energy-each whole warrant partially comprising a unit to entitle holder to purchase one co’s common share for price of $2.50 for up to 3 years

* Kontrol Energy- balance of purchase price will be paid in cash, a hold-back of up to $6 million is contemplated for any adjustments that may be required

* Kontrol Energy Corp - with deal, net distributable cash flow after all expenses is about $3 million per annum in recurring cash flows for next 18 years Source text for Eikon: Further company coverage:

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