VANCOUVER, May 4, 2015 /CNW/ - Finavera Wind Energy Inc. ('Finavera Wind Energy', 'Finavera' or the 'Company') (TSX-V: FVR) announces that it has adopted the advance notice provisions (the "ANP") as discussed and approved by shareholders at the Company's 2014 Annual General Meeting held on September 12, 2014, regarding nominations for the election of directors at meetings of shareholders. The ANP requires, among other things, advance notice to the Company in certain circumstances where a shareholder of the Company intends to nominate persons for election to the Board.
The ANP establishes deadlines by which a registered shareholder must submit to the Company prior to any annual or special meeting of shareholders at which directors are to be elected the names and certain other information on any proposed nominee.
The deadline for notice to the Company in the case of an annual meeting of shareholders is not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.
The deadline for notice to the Company in the case of a special meeting of shareholders (which is not also an annual meeting), is not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.
The ANP is in effect and will apply to the next Annual General Meeting. The full text of the ANP is available on SEDAR at www.sedar.com.
Jason Bak, CEO
About Finavera Wind Energy Inc. (www.finavera.com)
Finavera Wind Energy is a company focused on developing renewable energy opportunities. Our mission is to create and operate a diversified portfolio of renewable energy projects while protecting and enhancing the physical and social environment. Finavera has developed over 360MW of wind energy projects and subsequently sold them to utilities or large independent power producers. Finavera is continuing to opportunistically review prospects for growth and the enhancement of shareholder value.
Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. The words "would", "will", "expected" and "estimated" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information includes the anticipated completion of the transaction and the related closing timeline and structure. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, results of due diligence investigations, litigation, legislative or other judicial, regulatory and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements.
Completion of the transaction is subject to a number of conditions, including Exchange acceptance and board approval. There can be no assurance that the transaction will be completed as proposed or at all. Trading in the securities of Finavera Wind Energy should be considered highly speculative.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
SOURCE Finavera Wind Energy Inc.
For further information: Finavera Wind Energy, Jason Bak, CEO, +1 (604) 288-9051, [email protected]