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Rights Issue and Shortfall
Vega Promotional Systems, Inc. (PINKSHEETS: VGPR) reported that its Georgia manufacturing plant will produce bio-coal.
Vega Promotional Systems, Inc. (PINKSHEETS: VGPR) reported that its Georgia manufacturing plant will produce bio-coal.
The press release is quoted as saying:
The Company recently announced it has entered into an agreement with Austrian-based ECEM Salzburg Energy and Environment Consulting GmbH to sell 100% of the bio-coal produced at the Company’s Georgia facility. ECEM will resell the product to power companies throughout Europe. The five year deal will generate approximately $17 million in annual revenue to Vega.
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