Global Resource Energy, Inc Signs LOI With SMED Energy
Global Resource Energy Inc. announced today that it has entered into a letter of intent with SMED Energy Inc of Calgary, Alberta, subject to due diligence, and later agreement between GBEN and SMED pursuant to which GBEN shall acquire approximately 5MW worth of power from the Buffalo Hills project (estimated purchase price of $14,250,000 + tax) to be paid in cash or common stock of the company.
The Company is undertaking due diligence and expects to update on the signing of a definitive agreement in the event that one is signed in the next 30 days.
