Green Energy Groups (SeaBird Exploration Plc) 55% owned subsidiary Green Minerals today announces a Memorandum of Understanding with Oil States Industries Ltd establishing collaboration for the development of a Harsh Environment Deep Sea Mining System (HEDSMS) against a long-term contract for exclusive use in Norwegian waters has been entered into.
As part of the agreement, Oil States Industries will take a 4,3% ownership stake in Green Minerals by way of issuance of 580,000 shares at NOK 15 per share.
For further information, please visit www.greenminerals.no
Contacts:
Ståle Rodahl
Executive Chairman
Ph: +47 4840 0593
