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LONDON, July 18, 2014 /CNW/ - Active Energy Group Plc (AIM:AEG), the London Stock Exchange AIM-listed international supplier of industrial wood chip, timber products and forestry management services, announces that it has entered into an important new joint venture agreement to exclusively commercialise in excess of 100,000 hectares (c.250,000 acres) of mature forestry assets in Alberta, Western Canada, which are expected to yield more than 20 million m3 of commercial standing timber.
Ronald M. Derrickson, Grand Chief of British Columbia and Chairman of RMD Group, commented:
"In AEG, the Métis Settlements have finally found a partner with the experience, vision and international network to enable them to properly and fairly commercialise their assets for the long-term benefit of their communities. I first became aware of Richard Spinks - Active Energy Group's CEO - through his ground-breaking work with Landkom International in Ukraine, where he successfully created a co-operative agricultural business that transformed the lives of many thousands of private land owners. Richard and I have been working together for the past five years to assemble a deal that finally gives the Métis an equitable share in the economic development of their forests, and I know that it will set the standards and terms for further agreements with other Métis, First Nations and aboriginal groups across Canada to enable them to develop and commercialise their assets in an equitable and sustainable manner to bring long-term economic growth, employment and stability to their communities and their peoples."
Richard Spinks, CEO of Active Energy Group Plc, commented:
"This exciting new venture is the result of many years of working closely with Grand Chief Derrickson and the Métis leadership to structure an equitable arrangement that works for all parties, commercialises the forestry assets in a sustainable and environmentally-sensitive manner, and allows the Métis communities to actively participate in and benefit from the proper development of their lands and resources. AEG are delighted to be partners in this ground-breaking initiative, and my co-directors and I, two of whom will play a key role in the new company strategy and operations, are confident that our international timber industry and forestry management expertise and connections will ensure its success for current and future generations."
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SOURCE Active Energy Group Plc
Image with caption: "Active Energy Group Plc (CNW Group/Active Energy Group Plc)". Image available at: http://photos.newswire.ca/images/download/20140718_C8176_PHOTO_EN_42183.jpg
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