Energy Development Corporation (EDC) executed Shareholders Agreements with Hot Rock Limited

Following the execution of the Joint Venture Agreement (JVA) last 02 February 2012, Energy Development Corporation (EDC) executed Shareholders Agreements (SHA) and their ancillary documents with Hot Rock Limited (HRL) of Australia today 02 May 2012, to establish project companies for each of the Longavi geothermal concession in Chile, as well as the Chocopata and Quellaapacheta geothermal authorizations in Peru, allowing the joint venture to commence exploration activities at each of the foregoing sites.  Pursuant to the terms of the SHA, EDC will hold 70% of the outstanding capital stock of each of the project companies, with HRL taking the remaining 30%. - https://www.affordablecebu.com/