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Revolve Announces Approval of the Plan of Arrangement by the Shareholders of WindRiver Power Corporation
VANCOUVER, BC / ACCESSWIRE / November 7, 2023 / Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB...
About this update from Revolve Renewable Power Corp
[{"type":"text","content":"Revolve Announces Approval of the Plan of Arrangement by the Shareholders of WindRiver Power CorporationVANCOUVER, BC / ACCESSWIRE / November 7, 2023 / Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF) (\"Revolve\" or the \"Company\") a North American owner, operator and developer of renewable energy projects, announces that the shareholders of WindRiver Power Corporation (\"WindRiver\") approved the proposed arrangement agreement (the \"Arrangement Agreement\") for acquisition of all of its issued and outstanding common shares by Revolve Acquisition Corp. (the \"Purchaser\"), a wholly owned subsidiary of Revolve as referenced in the news release dated on October 4, 2023 https://money.tmx.com/quote/REVV/news/8396491694749393/Revolve_Announces_Proposed_Acquisition_of_Canadian_Renewable_Energy_Operator_and_Developer_WindRiver_Power_CorporationThe special meeting of shareholders of WindRiver was held on November 6, 2023 where the special resolution of the Arrangement was approved. Out of 90.25% of the votes cast by the shareholders present or represented by proxy, all voted FOR and there were no votes AGAINST the resolution.The final order (\"Final Order\") approving the Arrangement from the Court of King's Bench of Alberta, Judicial Center of Calgary is anticipated to be granted by mid-November. Closing of the Proposed Acquisition is expected to occur in early December 2023.About WindRiverSince its establishment in 2008, WindRiver built a successful track record in the renewable energy industry, completing the development of several wind and hydro projects across both British Columbia and Alberta totaling 200MW.It holds equity interests in 6.63MW of net operational capacity split between two operating hydro projects and one operating windfarm, all locate in Canada. In addition to this WindRiver is currently developing 90MW of hydro development projects located in British Colombia. These projects are at varying stages of development with target ready to build dates in 2025-2026 subject to future power contracting opportunities with BC Hydro.About RevolveRevolve 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. 2,838MW under development. The Company has a second division, Revo...