10:12 AM EST - Xinergy Ltd. : announced the signing of a purchase agreement with JMP Coal Holdings LLC to acquire all their outstanding membership interests in Raven Crest Mining LLC for $40 million U.S. Raven Crest is expected to have about $25 million U.S. in long-term debt at the closing of the transaction. Also, the company said it has received a financing commitment for $75 million U.S. from Marret Asset Management Inc. to fund the acquisition, which Xinergy expects to complete by April 30. The acquisition is subject to customary closing conditions, including completion to Xinergy's satisfaction of its due diligence investigation of Raven Crest. Xinergy Ltd.
shares T.XRG are trading even at $2.54.
