Anglo Pacific and FlowStream Announce Strategic Co-Investment Agreement
25.10.2013 | Marketwire
LONDON, UK and ST. HELIER, JERSEY, 25th OCTOBER 2013 - Anglo Pacific Group PLC ("Anglo Pacific") (LSE: APF) (TSX: APY) and FlowStream Commodities Ltd ("FlowStream") announce that they have entered into a Strategic Co-Investment Agreement (the "Agreement").The Agreement provides for Anglo Pacific being offered up to a 10% co-investment interest in a defined number of streaming and royalty projects in the oil and gas sector that FlowStream invests in from 25th October 2013, with an option to increase above 10% on both parties' agreement. Anglo Pacific will benefit from FlowStream's oil & gas opportunity sourcing and technical due diligence capabilities.
FlowStream will benefit from Anglo Pacific's proven expertise and experience in the royalties market garnered from years of being successfully active in mining royalties. In addition FlowStream has secured Anglo Pacific as one of its founding shareholders, alongside KKR and Global Gate Capital SA.
Julian Treger, Chief Executive Officer of Anglo Pacific, commented: "The Agreement with FlowStream will provide Anglo Pacific with an excellent opportunity to leverage their depth of knowledge and expertise in oil & gas, and gain further exposure to the energy sector."
Brian Wides, Chairman of Anglo Pacific, commented: "We are delighted to be partnering with FlowStream and look forward to working together on their business development pipeline. We feel that the combination of our co-investment rights and our investment into FlowStream's equity will create an invaluable opportunity for Anglo Pacific."
Jan Laubjerg, Chief Executive Officer of FlowStream, commented: "We are delighted to be partnering with Europe's most experienced royalties company as we launch our oil & gas focused streaming efforts. Having Anglo Pacific alongside us accelerates our ability to execute on our own vision of being a premier, global oil & gas streaming and royalties company."
Ben Iversen, Chief Financial Officer of FlowStream, commented: "Anglo Pacific's support of FlowStream as both an investor in our company as well as a potential co-investor in our projects represents an important mark of validation of our young company. We are delighted that they will bring their expertise and experience in the natural resources royalties sector to bear to support FlowStream's growth going forward."
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