Tilt Renewables to Sell Snowtown 2 Wind Farm

The 270 MW wind farm will be sold to an entity run by Palisade. The project an enterprise value of over AU$1.07 billion.

Tilt Renewables (ASX:TLT), a wind energy company announced that it has sold its Snowtown 2 wind farm to an entity run by Palisade Investment Partners. Valued at over AU$1.07 billion, the transaction will include the sale of AU$472 million shares in addition to the sale of its project financing facility, worth AU$611 million.

As quoted in the press release:

Deion Campbell, Chief Executive of Tilt Renewables said “the sale of Snowtown 2 is consistent with Tilt Renewables’ focus on delivering shareholder value from market opportunities and ensuring capital is available to execute near‐term, high‐value opportunities from its development pipeline. It is pleasing to see the market acknowledge the quality of this asset, which is representative of the quality of the rest our operational and development portfolio and the value our highly experienced team can create for
shareholders over time.

We are confident that Palisade has the experience and credentials to continue to successfully operate Snowtown 2 and maintain the strong relationships established with key project stakeholders. In particular the local Snowtown community and project landowners, with whom we will continue to maintain a connection via our Snowtown 1 asset.”

Click here to read the full press release.

Petratherm Limited Announces Filing of Early Warning Report Related to the Disposition of Common Shares of Outback Goldfields Corp.

Petratherm Limited (ASX: PTR) (“Petratherm”) announces that it has filed an early warning report (the “Report”) announcing that it has disposed of 33,333,333 common shares (the “Disposed Shares”) of Outback Goldfields Corp. (CSE:OZ) (formerly, Skarb Exploration Corp.) (“Outback Goldfields“). Petratherm acquired the Disposed Shares as consideration for the sale of its gold projects located in Victoria, Australia. Unless permitted under securities legislation, Petratherm must not trade the common shares before April 16, 2021. Following the expiry of this restriction period, Petratherm distributed all of the Disposed Shares in specie to its shareholders effective today. Following the disposition of the Disposed Shares, Petratherm holds nil shares of Outback Goldfields.

This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the filing of the Report by Petratherm.

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AU$4 Billion Galaxy/Orocobre Merger to Create Top 5 Lithium Company

Australia’s Orocobre (TSX:ORL,ASX:ORE) and Galaxy Resources (ASX:GXY,OTC Pink:GALXF) agreed this week to join forces in a AU$4 billion “merger of equals.” The deal comes as demand for lithium for electric vehicle (EV) batteries continues to pick up pace.

Once the merger is complete, the new company will become a top five lithium chemicals company globally — and top three outside of China — with production capacity of around 40,000 tonnes of lithium carbonate equivalent per year.

“The merged entity’s growth opportunities in both brine and hard rock position it uniquely to take advantage of expected rising EV demand for lithium,” Galaxy Chairman Martin Rowley said.

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IIROC Trading Halt – TMRR

The following issues have been halted by IIROC:

Company: Tempus Resources Ltd.

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Cleantech Investing in Australia

Climate change is a looming issue for Australians, with 82 percent concerned about bushfires and 81 percent worried that drought or flooding will affect crop production and food supply.

This is where conscious investors look to the cleantech sector, which covers everything from renewable energy to low-emission technologies to water technology to battery storage and more.

What should investors know about cleantech in Australia before they jump in? Read on for a look at key factors, including market size, the industries encompassed by cleantech and big players to watch.

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Galaxy Resources Limited Announcement

Galaxy Resources Limited (ASX: GXY) ( Company ) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform (ASX):

  • Becoming a substantial holder

The announcement can be viewed at:
https://www2.asx.com.au/markets/trade-our-cash-market/announcements.gxy

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