Gateway Energy Corp. (GNRG.OB) Enters Agreement to Acquire Natural Gas Pipeline Assets
Gateway Energy Corporation announced yesterday that the Company entered into an agreement to acquire natural gas pipeline assets from Laser Pipeline Company, LP for $1.1 million. The expectation is that the acquisition will close on or before October 22, 2010, if certain conditions are met. Gateway Energy Corporation expects to finance the acquisition through a combination of cash on hand, bank debt and common stock. The form and terms of any such financing is expected to be finalized in the coming weeks. Mr. Fred Pevow, the President and CEO of Gateway Energy Corporation, commented, "The Laser transaction accomplishes a number…