Territory Biofuels Limited announced that it expects to receive AUD 1 million in funding from Lignol Energy Corporation.

Territory Biofuels Limited announced a private placement of 2,670,000 shares at a price of AUD 0.3745 for gross proceeds of AUD 1,000,000 with existing investor Lignol Energy Corporation on May 27, 2013. Upon completion, Lignol Energy Corporation will become the majority shareholder with approximately 56% of the issued shares of TBF and 60% on a fully diluted basis.