- Active Energy has, through its affiliate Timberlands, submitted all final documents to the Newfoundland and Labrador's ministry of fisheries and land resources for a Crown timber licence and forestry management agreements on the forestry management districts 17 and 18.

It said the submission, which followed over five months of co-ordination between Timberlands and the Canadian forestry consultancy company, Zimmfor Management Services Ltd, included all requested documentation, including the proposed financial term sheets for the prospective FMAs.

It said this exercise involved detailed analysis from each of the relevant ministries in the Province.

It said the application was in addition to rights conferred to the group under an earlier agreement in principle between the Province and the group which was announced on 22 May.

Active Energy non-executive chairman Michael Rowan said: 'This marks the next milestone for the development of commercial activities for TIL in Newfoundland.

'TIL and Active Energy are extremely excited about the prospect of revitalising the forestry activities on the Northern Peninsular, facilitating new investment into the Province and continuing to grow positive working relationships between the Province, its relevant ministries and TIL for the benefit of all.

'I look forward to providing shareholders with further updates regarding the applications for the CTL and the FMAs in due course.'

At 8:07am: [LON:AEG] Active Energy Group share price was +0.15p at 2.4p

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