Greenergy Inks MOA with Thebizlink

Greenergy Holdings Inc. (PSE: GREEN) entered into a Memorandum of Agreement (MOA) with Thebizlink Philippines Inc. and Thebizlink Co. Ltd (Thebizlink Group) for the development of a transport hub, smart-farming agriculture area, smart-city commercial and/or mixed-use developments and other related developments.

Under the MOA, within 90 days from the execution thereof, Thebizlink Group shall provide Greenergy a funding facility in the initial amount of $350 million provided that the legal, financial and technical due diligence on the project to be conducted by Thebizlink Group does not result in any material adverse findings involving the project. The funding facility will have a term of five years with a fixed interest of 3% per annum. On the fifth anniversary of the execution of the funding facility, Greenergy has the option to convert the loan into equity.