VANCOUVER, June 12, 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 has been required to
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") and all
other subsequent interim financial periods.
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 Company has filed its 2014 Annual Financial Statements on
June 11, 2015. The Company is
preparing and is in the process of filing its financial statements
and accompanying management's discussion and analysis for the
quarter ended March 31, 2015.
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.
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.