09:46 AM EST - Xinergy Ltd. : announced today the closing of the sale of its wholly owned subsidiary, Xinergy of Alabama, Inc. for $3.1 million in cash, which represents a gain of approximately $1.8 million. As stated in the Company's recent Management Discussion & Analysis dated August 4, Xinergy had entered into a non-binding letter of intent to sell all of its interest in the Alabama properties, which were held by Coal Valley. Although the Company had permitted the property and controlled the mineral rights at Coal Valley, Xinergy management considered these properties to be outside of its strategic near-term plans. Xinergy Ltd.
shares T.XRG are trading even at $1.85.
