VANCOUVER, Dec. 15, 2015 /CNW/ - Finavera Solar Energy
Inc. ('Finavera Solar Energy', 'Finavera' or the 'Company')
(TSX-V: FVR) is pleased to announce the results of its Annual
General Meeting today. The following briefly describes the matters
voted upon and the outcome of the votes at the annual and special
meeting of the shareholders of the Company held on December 15, 2015 in Vancouver, British Columbia:
voted in favour of appointing the nominees set forth in the
Company's information circular of Jason Bak, David Lamont, Ken
Stadlin and Michael Clark to serve as Directors of the Company
for the ensuing year;
KPMG LLP was
reappointed as auditors of the Company; and,
the Company's rolling
10% stock option plan was approved.
All resolutions were approved with 93% to 98% in favour.
The Company also announces it has issued 2.7 million stock
options to various directors, officers and consultants of the
Company. The options have a term of 5 years and were issued at a
price of $0.07 per share. The options
were granted under the Company's Stock Option Plan and are part of
the Company's long term incentive/retention plan for employees.
The option issuance is subject to the approval of the TSX
Jason Bak, CEO
Finavera Solar Energy
+1 (604) 288-9051
About Finavera Solar Energy Inc. (www.finavera.com)
Finavera is focusing its renewable energy development efforts on
residential and utility scale solar projects in America. Through
its subsidiary, Solar Alliance of America, Finavera's 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.
About Solar Alliance Of America Inc.
Located in San Diego, California, Solar Alliance is a
solar sales and marketing firm focused on residential solar
installations. In 2013, Solar Alliance had $20.7 million in revenue and was ranked #49 on
Inc. magazine's Top 500 list of America's Fastest Growing Private
Companies, making it #2 in the San Diego
Area and #9 on the list of Top 100 California
companies. In 2012, Solar Alliance was rated #45 on the Top
500 list. From its inception in 2009, Solar Alliance has
installed more than 2,000 residential solar systems in southern
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 Solar Energy, Inc.