Inside Information Sale And Purchase Agreements With Mount Olive I, LLC And Hive Energy Limited
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On 15 February 2016 (US time), GCL New Energy (NC) I, LLC (an indirect wholly owned subsidiary of the Company) (as the purchaser) and Mount Olive I, LLC (an independent third party of the Company) (as the seller) entered into a sale and purchase agreement (the “Wilson SPA”) in relation to the sale and purchase of the entire equity interest in the Wilson Project Companies for a total consideration of US$4,212,000 (equivalent to approximately HK$32,792,526). The Wilson Project Companies own the development rights to seven yet to be constructed photovoltaic electrical energy producing utility systems totaling approximately 58.5 MW AC located in North Carolina in the United States (the “Wilson Assets”)More Information…GCL New Energy Holdings
