Transol sells stake in methane unit

Transol sells stake in methane unit

Technology and mining investment company Transol Limited (ASX:TNC) has announced the sale of its 50% stake in Enhanced Biogenic Methane to Regal Resources.

Under the arrangement, Transol will receive $200,000 in funds that had previously been loaned to its subsidiary, as well as 20 million shares in Regal.

Transol will also retain a 2.5% royalty on well head production from commercial quantities of methane produced by the company.

The sale is subject to Regal shareholder approval. TNC shares are today trading unchanged at $0.004.

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Tags TransolASX:TNCbusiness deals

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