March 8, 2017 / 7:08 PM / a year ago

BRIEF-OneRoof Energy Group says unit to sell solar project assets for US$8 mln

March 8 (Reuters) - OneRoof Energy Group Inc:

* OneRoof Energy announces agreement to sell solar project assets

* Deal for an aggregate purchase price of US$8 million in cash

* Transaction was entered into as part of company’s previously-announced wind down process, which is ongoing

* Expects that substantially all of net proceeds from transaction will be used to pay solar project-related expenses

* About US$1.8 million of net proceeds of transaction will be used to repay principal, accrued interest on loan from new resource bank

* Does not anticipate deal nor any other deal that co may enter into will generate sufficient funds to pay claims of creditors in full Source text for Eikon: Further company coverage:

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