TORONTO, Feb. 24 /CNW/ - GMR Energy Limited ("GMR"), a subsidiary of GMR
Infrastructure Limited, has acquired ownership of 75,792,027 common shares
(the "Shares") of Homeland Energy Group Ltd. (TSX:HEG)("Homeland"). These
shares were acquired pursuant to a private agreement. The Shares were issued
at a deemed price of Cdn$0.455175 per share in exchange for GMR's 10% voting
and equity interest in Homeland Mining & Energy SA (PTY) Ltd.
GMR owns approximately 33.5% of Homeland's issued and outstanding common
shares immediately after closing of this transaction, all of which were
acquired through this transaction.
GMR has acquired the Shares for long term investment purposes and
currently does not intend on acquiring ownership of, or control over, any
additional securities of Homeland.
For further information:
For further information: including to obtain a copy of the report filed
with the Canadian securities regulatory authorities in respect of which this
news release relates, please contact Mr. Yajaman Manjaiah Shivamurthy, Group
President and General Counsel, at Shivamurthy.email@example.com, or Mr. Ashis
Basu, Executive Vice President, at Ashis.firstname.lastname@example.org. The mailing address
of GMR Energy Limited is: GMR Energy Limited, IBC Knowledge Park, Phase 2, 'D'
Block, 9th Floor, 4/1, Bannerghatta Road, Bangalore, India, 560 029