VANCOUVER, BC, Jan. 12,
2023 /CNW/ - Revolve Renewable Power Corp.
(TSXV: REVV) ("Revolve" or the "Company") is
pleased to announce that subject to regulatory
approval, it has engaged the services of Independent Trading Group
("ITG") to provide market-making services in accordance with TSX
Venture Exchange TSXV policies. ITG will trade shares of the
Company on the TSXV and all other trading venues with the
objective of maintaining a reasonable market and improving the
liquidity of the Company's common shares.
Under the agreement, ITG will receive compensation of
CAD$5,000 per month, payable
monthly in advance. The agreement is for an initial term of three
months and will renew for additional one-month terms unless
terminated. The agreement may be terminated by either party with 30
days' notice. There are no performance factors contained in the
agreement and ITG will not receive shares or options as
compensation. ITG and the Company are unrelated and unaffiliated
entities and at the time of the agreement, neither ITG nor its
principals have an interest, directly or indirectly, in the
securities of the Company.
About Independent Trading Group
ITG is Canada's only brokerage
firm dedicated specifically to professional trading. As
Canada's foremost Market Making
Firm, ITG provides Market Making and Liquidity Provider services
that are objective and focused. With its head office in
Toronto, ITG employs real traders
and provides real liquidity, with an underlying emphasis on
integrity and success.
About Revolve
Revolve was formed in 2012 to capitalize on the growing global
demand for renewable power. Revolve develops utility-scale wind,
solar and battery storage projects in the US and Mexico with a portfolio of approx.
2450MW under development. The Company has a second division,
Revolve Renewable Business Solutions which installs and operates
sub 20MW "behind the meter" distributed generation (or "DG")
assets. Revolve Renewable Business Solutions currently has an
operating portfolio of 2.85MW with an additional 6.2MW under
construction phase.
Revolve has an accomplished management team with a demonstrated
track record of taking projects from "greenfield" through to "ready
to build" (or "RTB") status and successfully concluding project
sales to large operators of utility-scale renewable energy
projects. To-date, Revolve has developed and sold over 300MW
of projects.
Going forward, Revolve is targeting 5,000MW of utility-scale
projects under development in the US and Mexico, and in parallel is rapidly growing its
portfolio of revenue-generating DG (distributed generation)
assets.
Forward Looking Information
Although Revolve believes, considering the experience of its
officers and directors, current conditions and expected future
developments and other factors that have been considered
appropriate that the expectations reflected in this forward-looking
information are reasonable, undue reliance should not be placed on
them because Revolve can give no assurance that they will prove to
be correct. When used in this press release, the words "estimate",
"project", "belief", "anticipate", "intend", "expect", "plan",
"predict", "may" or "should" and the negative of these words or
such variations thereon or comparable terminology are intended to
identify forward-looking statements and information. The
forward-looking statements and information in this press release
include information relating to the business plans of Revolve and
Revolve's management's expectation on the growth and performance of
its business in the United States
and Mexico, including the planned
MW capacity of its projects; its expansion into the distributed
generation market; potential opportunities in the distributed
generation market; the completion and timing of
the development of its planned portfolio of distributed
generation projects; potential revenues and cashflows generated
from its DG division; the Company's plans to develop, construct and
finance rooftop solar, battery storage and energy efficiency
projects of up to 5MW and enter into long term power purchase
agreements for the sale of electricity from the projects with the
underlying customers; Revolve's long-term funding plans and plans
to establish a new renewable energy development platform;
completion of interconnection studies on each of the Projects;
receipt of an NTP on each of the Projects; completion of the COD
for each of the Projects; payment of deferred consideration by
ENGIE upon the occurance of each of the forgoing development
milestones for the Projects; exercise of the Put Option by ENGIE;
the MW of the Bouse Project and its capacity to provide electricity
to an equivalent of approximately 1.2 million homes; and the MW
capacity of the Parker Project and its capacity to provide
electricity to an equivalent of approximately 300,000 homes. Such
statements and information reflect the current view of
Revolve.
The forward-looking statements contained in this news release
are based on current expectations, estimates, projections and
assumptions, having regard to the Company's experience and its
perception of historical trends, and includes, but is not limited
to, expectations, estimates, projections and assumptions relating
to the extent of regulations pertaining to the Company's projects,
the receipt of regulatory approvals and Revolve's ability to
continue as going concern. Risks and uncertainties that may cause
actual results to differ materially from those contemplated in
those forward-looking statements and information, including but not
limited to: the effects of weather, catastrophes and public health
crises, including COVID-19; labour availability; disruptions to the
Company's supply chains; changes to regulatory environment,
including interpretation of production tax credits; armed
hostilities and geopolitical conflicts; failure to obtain necessary
regulatory approvals in a timely fashion, or at all; risks related
to the development and potential development of the Company's
projects; conclusions of economic evaluations; changes in project
parameters as plans continue to be refined; the availability of tax
incentives in connection with the development of renewable energy
projects and the sale of electrical energy; as well as those
factors discussed in the sections relating to risk factors
discussed in the Company's continuous disclosure filings on SEDAR.
Such statements and information reflect the current view of
Revolve. By their nature, forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause
our actual results, performance or achievements, or other future
events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements.
The forward-looking information contained in this press
release represents the expectations of Revolve as of the date of
this press release and, accordingly, is subject to change after
such date. Readers should not place undue importance on
forward-looking information and should not rely upon this
information as of any other date. Revolve does not undertake to
update this information at any particular time except as required
in accordance with applicable laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy
of this release.
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SOURCE Revolve Renewable Power Corp
