VANCOUVER, May 15, 2015 /CNW/ - Finavera Wind Energy
Inc. ('Finavera Wind Energy', 'Finavera' or the 'Company')
(TSX-V: FVR), announces that further to its application for a
Management Cease Trade Order granted on May
1st, 2015 (the "MCTO"), the Company will provide
bi-weekly status reports in accordance with National Policy 12-203,
until such time as the financial statements and accompanying
management's discussion and analysis are filed for the year ended
December 31st, 2014
(collectively, the "2014 Annual Financial Statements").
The MCTO restricts all trading in securities of the Company,
whether direct or indirect, by the CEO, CFO and COO of the Company,
until such time as the 2014 Annual Financial Statements have been
filed by the Company. The MCTO does not affect the ability of
shareholders who are not insiders of the Company to trade their
securities or the Company's ability to issue shares.
The Company advises that there are no material changes to the
information contained in the default announcement, and there is no
material information concerning the affairs of the Company that has
not been generally disclosed. The Company does not anticipate any
defaults under National Instrument 51-102 Continuous Disclosure
Obligations.
Jason Bak, CEO
About Finavera Wind Energy Inc. (www.finavera.com)
Finavera Wind Energy is a company focused on developing renewable
energy opportunities. Our mission is to create and operate a
diversified portfolio of renewable energy projects while protecting
and enhancing the physical and social environment. Finavera
has developed over 360MW of wind projects and subsequently sold
them to utilities or large independent power producers.
Finavera is continuing to opportunistically review prospects for
growth and the enhancement of shareholder value.
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. The words "would", "will", "expected"
and "estimated" or other similar words and phrases are intended to
identify forward-looking information. Forward-looking information
is subject to known and unknown risks, uncertainties and other
factors that may cause the Company's actual results, level of
activity, performance or achievements to be materially different
than those expressed or implied by such forward-looking
information. Such factors include, but are not limited to:
uncertainties related to the ability to raise sufficient capital,
changes in economic conditions or financial markets, litigation,
legislative or other judicial, regulatory and political competitive
developments and technological or operational difficulties.
Consequently, actual results may vary materially from those
described in the forward-looking statements.
"Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
SOURCE Finavera Wind Energy Inc.