Replies to post #5868 on BioPower Operations Corp (BOPO)

[mikeo56]

I like this.
Signet Capital has agreed to be the lead financial advisor of record and is arranging a $450 Million private placement for the first trance(s) of a green electricity generation project of the joint venture with POWGEX ENERGY called POWGEX-HYFI which intends to build, own and operate green electricity generating facilities for the next 45 years

BioPower will own up to 19.99% of the joint venture and receive a $50m equity investment in exchange for various deliverables including providing initial structured finance for $450 Million and our OEM, EPC & O&M relationships.

A portion of the use of proceeds will enable, subject to certain terms and conditions, POWGEX Energy to buy 15% of BioPower Common Stock or 7,500,000 shares at $6.67 per share at a $333 Million valuation for $50,000,000 and get one Board of Director seat. HYFI will have one Board of Director seat on the JV and POWGEX will have 2 seats.