Updates on Pan Global Corp. (PGLO) Hydroelectric Plant Acquisition
Environmentally sustainable energy, infrastructure, and technologies-focused company Pan Global Corp. recently announced it is making significant strides toward its acquisition of a small hydroelectric power plant in India. Through Pan Asia Infratech Corp., its wholly owned subsidiary, the company entered into a non-binding letter of intent (LOI) on Sept. 10, 2013, pursuant to which Pan Global plans to acquire 100 percent of the outstanding equity of a privately held Indian corporation (the target) that is commissioning a 5.7 MW small-hydro project in northern India (the project). The project was estimated to be 95 percent complete at the time of execution…