Business
P Squared Renewables Inc. And Borealis Geopower Inc. Continue To Advance Towards Commercial Geothermal Power Generation In Canada.
(via TheNewswire) August 28 , 2017 / TheNewswire / Calgary, Alberta P Squared R...
About this update from Universal Ibogaine Inc
[{"type":"text","content":"P Squared Renewables Inc. And Borealis Geopower Inc. Continue To Advance Towards Commercial Geothermal Power Generation In Canada.(via TheNewswire)\n \n \nAugust 28, 2017 / TheNewswire / Calgary, Alberta\n\n\n \nP Squared Renewables Inc. (TSXV: PSQ.P) (\"P Squared\") is pleased to provide the following update regarding the business of Borealis GeoPower Inc. (\"Borealis\"). P Squared entered into a letter of intent with Borealis and its shareholders that sets out the basic terms and conditions pursuant to which it is intended that P Squared and Borealis will complete a business combination (the \"Proposed Transaction\"). The Proposed Transaction is intended to be the Qualifying Transaction of P Squared pursuant to the Policies of the TSX Venture Exchange. Please refer to P Squared's news releases of July 5, 2017 and August 8, 2017 for further information regarding Borealis and the Proposed Transaction. \n\n\n \nSeismic Program\n\n\n \nBorealis has initiated its Passive Seismic Reservoir Characterization program at the Canoe Reach Energy Project, one of the final steps in the pre-drilling evaluation of the Project. Passive seismic is a technique that uses seismometers to detect subsurface structures including faults and fractures without the use of man-made external stimuli. This tool has been used since the 1970's in delineation of the subsurface geothermal structures in Iceland and California, and is most effective when used in conjunction with the additional exploratory methods exercised by Borealis. \"This is a first for geothermal exploration in Canada\" stated Craig Dunn, chief geologist for Borealis, \"and represents a milestone in the development of Canada's first commercial Geothermal Heat and Power Plant.\" \n\n\n \n\"This is an exciting development for Borealis and P Squared. Canadians have enthusiastically endorsed recent National and Provincial government initiatives for the domestic development of renewable power sources as important contributors to the future energy mix. We are pleased to provide public investors a means of participating in Canadian-focused renewable energy projects such as the Canoe Reach Energy Project\" states Shabir Premji, Executive Chair of P Squared.\n\n\n \nBorealis GeoPower\n\n\n \nBorealis is a renewable geothermal energy company with its head office in Calgary, Alberta. Borealis will acce...