VANCOUVER, March 12, 2015 /CNW/ - Finavera Wind Energy Inc. ('Finavera Wind Energy', 'Finavera' or the 'Company') (TSX-V: FVR), announces it is not aware of any material changes relating to the Company or its business to account for yesterday's movement in its share price and increased trading volume.
On August 25th, 2014 the Company announced that it had signed an agreement to acquire 100% of the equity of Solar Alliance of America, Inc., a corporation under the laws of California ('Solar Alliance'). Due diligence and negotiations with Solar Alliance continue in conjunction with a process to secure bridge financing to fund the acquisition. The anticipated debt financing would be secured against the proceeds of a receivable due this year from the sale of the Company's Cloosh Valley Wind Project in Ireland.
Finavera looks forward to closing the bridge financing and finalizing a commercial agreement with Solar Alliance in the short term and will provide an update at that time.
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 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 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, 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.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
SOURCE Finavera Wind Energy Inc.
For further information: Finavera Wind Energy, Jason Bak, CEO, +1 (604) 288-9051, [email protected]