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Leaf Resources Limited (ASX:LER) receives a signed non-binding Letter of Intent from Formosa Plastics Group for offtake of 300,000 tonnes per annum of premium wood pellets
Private placement to Formosa Group Australia Pty Ltd and Formosa Technologies Pty Ltd to raise ~$5.35 million from the issue of ~445.5 million new shares at $0.012 per share, subject to shareholder approval
Construction of the initial pine chemicals plant to be located at Rotorua, New Zealand is expected to commence in Q1 2023 and targeted to be operational by Q4 2023