EllisDon releases lien on Terra Grain Fuels ethanol plant in Canada; takes 33 percent equity stake

In Canada, Terra Grain Fuels announced that it has completed a transaction set with EllisDon Design Build that will release the $41 million construction lien filed against the company’s Belle Plaine ethanol facility. EllisDon has received a 33 percent equity interest in the company in consideration of a $10 million equity investment.

Under terms of the agreement, EllisDon can convert its equity into securities in terra Grain’s parent, UEG, by December 2010 if financial criteria are not met.

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