VANCOUVER, BRITISH COLUMBIA, February 21 /CNW/ - Finavera Renewables Inc. (the "Company") (TSX-V: FVR) has accepted the resignation of Damien Reynolds as a non-executive director of the Company. Reynolds was a co-founder of Finavera Renewables and played a key role in focusing the Company during its early development.
Finavera Renewables CEO Jason Bak said, "We recognise that Damien's extensive business interests mean that he can no longer commit the time required as member of the Board. We wish him well for the future and would like to record our appreciation for the value he has delivered during his tenure as a director."
Bak continues, "Finavera Renewables has been experiencing rapid growth and is continually investigating opportunities to add further value for shareholders. To facilitate this, we will be appointing additional non-executive directors with a combination of experience, knowledge and independence to allow the Board to fulfill its obligations towards the Company and deliver value for shareholders in the best possible way."
On behalf of the Board of Directors,
Jason Bak
CEO, Finavera Renewables Inc.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company's business, including risks related to exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy and accuracy of this release.