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Triangle Energy (Global) Limited (ASX:TEG)

ALERT: Price-sensitive ASX Announcement for TEG
Current share price for TEG : $0.001 -0.003 (-75%)+
Announcement
Release
17 Mar 2025 9:21AM
Price at Release
$0.004
Full Release
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Summary
Triangle Energy (ASX:TEG) provided an update regarding the sale of its interest in the Cliff Head project, stating it has not received a third payment of $985,171 from Pilot Energy (ASX:PGY) as per the Binding Term Sheet signed on 2 December 2024. Consequently, Triangle Energy is owed a total debt of $2,846,122. The Managing Director, Conrad Todd, expressed that discussions with Pilot are ongoing to resolve the payment issue and finalize the settlement.
Key Points
  • Triangle Energy has not received a third payment of $985,171 from Pilot Energy.
  • The total debt owed to Triangle Energy now stands at $2,846,122.
  • Ongoing discussions with Pilot Energy aim to achieve settlement of the agreement.
  • The sale pertains to Triangle's interest in the Cliff Head project.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.