Vancouver-based biofuels producer Dynamotive Energy Systems enters exclusive negotiations with unnamed company to form commercial partnership JV
September 7, 2010
– Dynamotive Energy Systems Corp. (OTCPK: DYMTF) announced that it has received expressions of interest from two parties to enter into strategic alliances to further its business. The offers received are subject to completion of due diligence and definitive agreements.
The Board of Directors after consideration of the conditional offers received authorized Dynamotive’s President and Chief Executive Officer Mr. Andrew Kingston to commence exclusive negotiations with one of the parties with a view to enter into definitive agreements.
Mr. Andrew Kingston commented that the Company had been in preliminary negotiations with a number of parties from Europe, US and South East Asia since the engagement of Cascadia Capital in February this year. Cascadia Capital is acting as financial advisor in the transaction.
The Company said, that given the nature of negotiations it does not intend to disclose developments regarding the review of strategic alternatives, other than that it had entered into exclusive negotiations with a specific party and the retention of its investment bank, Cascadia Capital, unless and until definitive agreements are reached.
For more information on Cascadia Capital, please visit www.cascadiacapital.com.
For more information on Dynamotive Energy Systems Corporation please visit www.dynamotive.com