Pan Global today announced its entrance into a loan agreement with its long-time lead financier, Anatom Associates S.A. The agreement is for up to USD$1.0 million in non-convertible 8% debt. PGLO will use part of this financing to fund the first set of closings on its planned acquisition of 100% of the outstanding shares and convertible debt of Regency Yamuna Energy Limited (RYEL). RYEL is a privately held Indian corporation that is building a 5.7 MW small-hydro project in India. The project is currently valued at around USD$11.0 million.
CD International Enterprises, an industrial commodities producer and distributor in China and the Americas, today reports that its International Magnesium Group subsidiary (“IMG”) has entered into a five-year distribution deal with Manali Engineering, in which Manali will serve as a sales agent to market IMG’s magnesium products throughout India.