AMERICAN POWER GROUP CORPORATION (OTCMKTS:APGI) Files An 8-K Entry into a Material Definitive Agreement

AMERICAN POWER GROUP CORPORATION (OTCMKTS:APGI) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement

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On October 18, 2017, American Power Group, Inc. (“APG”), a wholly owned subsidiary of American Power Group Corporation, and Iowa State Bank (the “Bank”), entered into a Change of Terms Agreement, to which the maturity of APG’s $500,000 Revolving Line of Credit was extended from October 14, 2017 to November 18, 2017.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On October 20, 2017, Raymond L.M. Wong resigned from the Board of Directors of the American Power Group Corporation (the “Company”). Mr. Wong’s resignation is not due to any disagreement known to the Company’s executive officers with respect to any matter relating to the Company’s operations, policies or practices.

Item 9.01 Financial Statements and Exhibits


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American Power Group Corporation operates through two segments: dual fuel conversion operations and natural gas liquids operations. The Company’s dual fuel conversion system is an external fuel delivery enhancement system that converts existing diesel engines into environmentally friendly engines that have the flexibility, depending on the circumstances, to run on diesel fuel and compressed natural gas (CNG) or liquefied natural gas (LNG); diesel fuel and pipeline gas, well-head gas or approved bio-methane, and diesel. The Company’s technology displaces approximately 75% (average displacement ranges from 40% to 65%) of the normal diesel fuel consumption with various forms of natural gas. The Company provides flare capture and recovery services to operators of the drilling equipment needing to meet their mandated flare gas capture limits by processing their previously flared gas for an agreed upon processing fee.

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