Bergamo Acquisition Corp. CEO Hillard Herzog to Travel to London to Close on Financing for the Previously Announced Energy Projects
Upon Financing, Bergamo Acquisition Corp.'s Wholly Owned Subsidiary Anticipates Receiving Approximately $140 Million USD Prepayment for Energy to be Produced
Las Vegas, NV -- Hillard Herzog, CEO of Bergamo Acquisition Corp. (OTC: BGMO), announced today its wholly owned subsidiary, Bergamo E&A, a Pakistani Corporation, will close the financing for the Company’s Pakistani Energy Projects in London next week. A clean coal energy plant in Pakistan is the Company’s first project. Bergamo Acquisition Corp. will forward a letter to the Pakistan Government confirming that funding for the clean coal energy plant is available in the amount of $501,953,400, after the scheduled meeting.
Upon the proof of funding, the Government of Pakistan, pursuant to the Letter of Intent, will prepay 14% of the energy purchases for the plant’s first five years of energy production. Energy sales are contracted to be $208M USD per year. This agreed fee is projected to be approximately $140M USD and will be paid to Bergamo E&A.
Although the timeline for some of the meetings has been pushed back due to travel concerns in light of the H1N1 virus, Bergamo is following its timeline in order. Next week's London meeting is to close on the financing.
Following the London meeting, Mr. Herzog will return to a meeting in New York late next week. This will be to wrap up final details of the domestic financing for $100M USD. The domestic financing is totally separate and apart from the international financing and will cover a number of domestic acquisitions.
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