Lignol Energy mulls sale, merger options
Lignol Energy Corp (TSXV: LEC), a Burnaby, British Columbia-based provider of biofuels, biochemicals and renewable materials, recently reported that it is in discussions to sell or merge each of the company's respective holdings, or sell or merge the company as a whole. In the past few months, Lignol has received bridge financing of $500,000 from Difference Capital Financial in anticipation of a pending financing, together with additional contributions to help the company operate. Lignol has recently received notices of default in respect of interest payments on outstanding secured debt with Difference Capital, totaling around $13.1 million.
18 August 2014•7 mins read
