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Article: ENERGEM RESOURCES INC - Re Agreement.
- Article from:
- PR Newswire UK Disclose
- Article date:
- May 21, 2008
CopyrightCOPYRIGHT 2008 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Energem secures interest in Stieglers Gorge Hydro-Electric Scheme project in
Tanzania
TSX/AIM: ENM
VANCOUVER, May 20 /CNW/ - Energem Resources Inc ("Energem" or "the
Company") is pleased to announce that it has executed a Memorandum of
Understanding ("MOU") with Infrastructural Development Finance (Pty) Ltd
("IDF") in terms of which it has, subject to further detailed contracts,
acquired a 40% interest in a proposed 900 megawatt hydro-electric scheme, the
Stieglers Gorge Hydro-Electric Scheme in Tanzania ("the Project") in
consideration for advancing a short term loan, approximately US$1.2 million
(the "Loan").
The acquisition results from an undertaking ...