Lignol Energy Corporation (LEC.V), a technology company in the advanced biofuels and renewable chemicals sector, announced that it has invested approximately A$2.5 million to acquire approximately 356 million shares of Australian Renewable Fuels Limited as a part of ARW's underwritten rights issue of approximately A$8 million. This investment was funded, in part, from LEC's recently announced line of credit with one of the company's major shareholders, Difference Capital Funding Inc. This investment together with the approximately 179 million shares acquired by LEC as a part of ARW's share placement, announced on February 12, 2013, and shares previously acquired by LEC has resulted in a total ownership of approximately 898 million shares, representing 21.4% of ARW.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
