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Finavera Wind Energy Responds to Notice of Claim
VANCOUVER, June 4, 2012 /CNW/ - Finavera Wind Energy Inc. ('Finavera Wind Energy' or the '...
About this update from Solar Alliance Energy Inc.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, June 4, 2012 /CNW/ - Finavera Wind Energy Inc. ('Finavera Wind Energy' or the 'Company') (TSX-V: FVR) would like to take this opportunity to respond to a Notice\n of Claim filed in B.C. Supreme Court by E&E Consulting Incorporated and\n Ecology and Environment Inc., a related company (collectively \"E&E\"),\n for payment of unpaid invoices. E&E was a contracted consultant to the\n Company and carried out environmental assessment work. E&E carried out\n the work on the Tumbler Ridge and Wildmare Wind Energy Projects. Both\n projects were suspended during the environmental assessment review\n period, causing delays to the overall project schedule. In its claim,\n E&E states it completed work \"in a good and workmanlike manner\".\n Finavera is assessing this claim and the Company's legal options.\n\n\nFinavera is fully focused on completing a strategic transaction that\n will realize significant value for shareholders. In the interim, the\n Company continues to manage the ongoing development of its portfolio of\n projects and manage outstanding payables with the support of lenders\n and service providers.\n\n\nE&E Consulting Incorporated filed a notice of claim seeking $835,753 in\n unpaid invoices. It also seeks $3,713 (U.S.) owing to Ecology and\n Environment Inc., a related company. The suit seeks court-ordered\n payment of the debt, plus interest at 1 per cent per month.\n\n\nJason Bak, CEO \n\n\nAbout Finavera Wind Energy Inc. (www.finavera.com)\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 Scottish and\n Southern Renewables for the 105MW Cloosh Valley Wind Project. Data\n collection and environmental studies have been continuing at a number\n of prospective sites in Canada and the United States.\n\n\nStatements in this news release, other than purely historical\n information, including statements relating to the Company's future\n plans and objec...