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.