Business
Harrison Vickers & Waterman Inc Receives Formal Letter Of Intent To Sell Its Interest In The New Jersey Battery Energy Storage Project
Harrison Vickers & Waterman Inc Receives Formal Letter Of Intent To Sell Its Interest In The New Jersey Battery Energy Storage Project.
About this update from Harrison, Vickers & Waterman, Inc.
[{"type":"text","content":"\n\n\n\nHarrison Vickers & Waterman Inc Receives Formal Letter Of Intent To Sell Its Interest In The New Jersey Battery Energy Storage Project\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nHarrison Vickers & Waterman Inc Receives Formal Letter Of Intent To Sell Its Interest In The New Jersey Battery Energy Storage Project\nPR Newswire\nWATERBURY, Conn., April 23, 2019\n\n\n\nWATERBURY, Conn., April 23, 2019 /PRNewswire/ -- Harrison Vickers & Waterman (OTC PINK: HVCW) (\"HVCW\" or \"the Company\") announced today that the Company has received a letter of intent to sell its New Jersey Battery Energy Storage Project.  The agreement, which is currently under a non-disclosure clause, would provide HVCW with a strong, upfront cash payment in exchange for its rights and ownership interest in the New Jersey Battery Storage Project.  The final deal terms are still being finalized, however, the parties have agreed to a target closing time to occur by the beginning of the third quarter.  \nThis development offers significant credibility to the Company's newly announced business model whereby the Company will seek to get energy development sites under contract and develop them through the first phases of the permitting and engineering. These first steps, which are often the most laborious and slow, offer an opportunity for HVCW to obtain lucrative energy projects for minimal upfront capital.  Once obtained, HVCW can develop the project to a point where larger energy companies can see viability and have greater interest in pursuing the venture.  Then HVCW can simply sell the project for cash along with a small overriding royalty for the life of the project.  \nChristopher C. Harrison, Chief Executive Officer of HVCW, commented on the recent news and developments, \"We are extremely excited to have received the LOI and to be in final negotiations to sell the New Jersey Project. We are equally excited that our business strategy is so quickly showing such tremendous opportunity for continued profits and revenues.  This is a system and pro...