Corning Natural Gas Holding Corporation (OTCPK:CNIG) signed a term sheet to acquire remaining 50% interest in Leatherstocking Gas Company, LLC from Mirabito Holdings, Inc. for $3.2 million on January 9, 2020. Post completion of the transaction, Corning Natural Gas will own 100% of Leatherstocking’s Pennsylvania assets. A new joint venture owned equally by Corning Natural Gas Holding Corporation and Mirabito Regulated Industries will own Leatherstocking’s New York State assets. The transaction will be funded from the proceeds of placement of a new series of preferred stock, to the tune of $4.5 million. As of March 27, 2020, the private placement was completed and said financing was raised. The transaction is subject to Pennsylvania regulatory approval. As of March 2, 2020, Corning Natural Gas Holding Corporation signed a membership interest purchase agreement to acquire remaining 50% interest in Leatherstocking Gas Company, LLC from Mirabito Holdings, Inc. for $3.2 million. Under the terms of the agreement, the consideration of $1.95 million will be paid in cash and $1.25 million will be paid in Cumulative Preferred A shares of Corning Natural Gas. On March 6, 2020, the application has been filed with the Pennsylvania Public Utility Commission for approval of the transaction. Corning Natural Gas Holding Corporation (OTCPK:CNIG) completed the acquisition of Leatherstocking Gas Company, LLC from Mirabito Holdings, Inc. for $6.7 million on July 1, 2020. The acquisition also involved assumption of debt and other liabilities of $3.49 million.