Basic Energy Corporation (PSE:BSC) signed a term sheet to acquire 10% stake in 25 MW biomass power plant in Karatsu from Vintage Holding Japan Co., Ltd. on December 7, 2017. A refundable deposit will be made by Basic Energy Corporation to begin the due diligence process and upon favorable results of the due diligence, the covering shareholders agreement will then be signed on or before June 30, 2018, during which time Basic Energy Corporation can opt to increase its planned stake up to 20% in 25 MW biomass power plant in Karatsu. Basic Energy Corporation (PSE:BSC) cancelled the acquisition of 10% stake in 25 MW biomass power plant in Karatsu from Vintage Holding Japan Co., Ltd. on December 7, 2018.