Business
Finavera Wind Energy Announces Changes to Board of Directors and $450,000 Private Placement
VANCOUVER, Dec. 14, 2011 /CNW/ - Finavera Wind Energy Inc. ("Finavera" or the "Company") (TS...
About this update from Solar Alliance Energy Inc.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Dec. 14, 2011 /CNW/ - Finavera Wind Energy Inc. (\"Finavera\" or the \"Company\") (TSXV: FVR) announces that Mr. Thomas Anderson has joined the Company's Board of\n Directors. Mr. Anderson has over thirty years direct executive\n experience involved in running companies in the natural resource,\n forestry, property development, leisure, entertainment and advertising\n sectors. He has focused on risk management, corporate finance and\n portfolio diversification. He has a degree in Commerce and Economics\n and a Masters of Business Administration from the University College\n Dublin. Mr. Anderson is Non-executive Chairman of Circle Oil PLC and is\n a director of Terrabiogen Corporation.\n\n\nFinavera also announces that Ms. Olga Ilich has resigned from the\n Company's Board of Directors. Ms. Ilich has resigned in order to focus\n on other business opportunities. The Company would like to thank Ms.\n Ilich for her dedication and direction during her time with Finavera\n Wind Energy and wishes her the best of luck in the future.\n\n\nIn conjunction with the changes to the Board of Directors, Finavera\n announces plans to raise up to $450,000 through a non-brokered private\n placement of 1,000,000 units at a price of $0.45 per unit. Each unit\n consists of one common share and one half share purchase warrant, with\n each full warrant exercisable at $0.55 for 12 months from the date of\n closing of the private placement. Proceeds of the placement will be\n used for general working capital. The private placement is subject to\n TSX Venture Exchange approval.\n\n\nJason Bak, CEO\n\n\nAbout Finavera Wind Energy Inc. (www.finavera.com)\n\n\nFinavera Wind Energy is a wind energy development company focused on\n developing, constructing, and operating wind farms in North America and\n Ireland. Our mission is to create and operate a viable renewable energy\n business while protecting and enhancing the physical and social\n environment. In British Columbia, Canada, projects totaling 301 MW have\n been awarded 25 year Electricity Purchase Agreements. In Ireland, the\n Company has signed a co-development agreement with SSE plc and Coillte\n Teoranta (the Irish Forestry Board) for the development and\n construction of Ireland's largest wind farm, the 105MW Cloosh Valley\n Wind Project. Data collection and environmental stu...