VANCOUVER, July 2, 2015 /CNW/ - Finavera Wind Energy Inc. ('Finavera Wind Energy', 'Finavera' or the 'Company') (TSX-V: FVR) is pleased to announce that it has received TSX Venture Exchange (the "TSX-V") acceptance and has officially changed its name to Finavera Solar Energy, Inc. Since the Company's acquisition of Solar Alliance of America on June 25, 2015 the Company's business is now focused on the solar energy industry and the new name more accurately reflects the Company's core business interest.
Trading under the new name "Finavera Solar Energy, Inc." will commence on the TSX-V at the opening of trading on July 3, 2015 under TSX-V symbol "FVR".
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 360 megawatts of wind 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.
About Solar Alliance Of America Inc. (www.solarallianceofamerica.com)
Located in San Diego, California, Solar Alliance is a solar sales and marketing firm focused on residential solar installations. In 2013, Solar Alliance had $20.7 million in revenue and was ranked #49 on Inc. magazine's Top 500 list of America's Fastest Growing Private Companies, making it #2 in the San Diego Area and #9 on the list of Top 100 California companies. In 2012, Solar Alliance was rated #45 on the Top 500 list. From its inception in 2009, Solar Alliance has installed more than 1,500 residential solar systems in southern California.
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.
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]