NaiKun Wind: Results from Annual General Meeting
March 19 2010 - 8:30AM
Marketwired
NaiKun Wind Energy Group (TSX VENTURE: NKW) held its Annual General
Meeting in Vancouver on March 18, 2010.
The following were re-elected to NaiKun Wind's Board of
Directors:
- Philip Hughes (Chair)
- Michael C. Burns
- Joseph Houssian
- Ken McCready
- David Rehn
- Paul Taylor
- Graham Wilson
In addition, KPMG LLP, Chartered Accountants were re-appointed
as auditors of the Company.
"One of NaiKun Wind's strengths is the membership of our Board
of Directors," said Philip Hughes, Chair of the Board. "The broad
range of experience and perspectives present on the Board has
served the company very well over the years."
"I would also like to take this opportunity, on behalf of
shareholders and staff, to thank Fereydoun (Fred) Dabiri and Steven
Sanders who are retiring from the Board," added Hughes. "Steven
Sanders has served on the Board since 1990, except for a brief
hiatus in 1994, and has provided many years of counsel to the
Company. Fred Dabiri joined the Board in 2007 and his experience
working with North Coast First Nations opened the door for NaiKun
Wind to form early successful relationships with First Nations in
the project area. We extend our deepest appreciation and best
wishes to both."
BC Hydro has indicated that it will complete the selection of
projects under the Clean Power Call by the end of this month. The
Company believes that the attributes and values of the NaiKun Wind
project present a compelling case for its inclusion on the list of
successful proponents.
Specifically, the project offers the following strengths:
- Solid collaborative partnerships with local First Nations
- Significant economic and environmental benefits for the North
Coast region
- Environmental Assessment Certificate from the Provincial
Government
- Superior wind resource; favourable conditions for
construction
- Existing transmission capacity at the point of
interconnection
- Proven Siemens offshore wind and transmission technology
- Strong public support
- Peak output during high-demand months
- Advanced stage of development - project is ready to build
NaiKun Wind continues to work with the Federal Government on the
completion of its environmental review process for the project. The
Company also continues to assist the Haida Nation in its effort to
secure support from the Federal Government that would enable the
Nation to become one of the generation company's equity owners.
In addition to advancing the offshore wind project, NaiKun Wind
is working toward near-term acquisition of electricity generation
assets in advanced stages of development. The goal is to diversify
the Company's risk profile and to secure near-term revenue from
renewable energy assets. NaiKun Wind expects to be able to provide
more information on this initiative in coming months.
NaiKun Wind remains confident in its vision of developing a
renewable energy company with the goal of helping to meet B.C's
energy needs, reducing greenhouse gas emissions and providing
benefits for North Coast communities and British Columbia as a
whole.
NaiKun Wind Energy Group Inc. is a British Columbia-based
renewable energy company with offices in Vancouver, Masset and
Skidegate. The 396MW offshore wind energy project will generate
enough energy to provide electricity to 130,000 B.C. homes and play
a significant role in combating climate change. The project will
also create an estimated 200 jobs during construction and 50
permanent jobs for maintenance and operations. NaiKun Wind is
committed to working in partnership with First Nations and
collaboratively with stakeholder groups and local communities in
the development of its project. For more information, please visit
www.naikun.ca.
Caution Regarding Forward-Looking Statements - This news release
contains certain forward-looking statements, including statements
regarding the business and anticipated financial performance of the
Company. These statements are subject to a number of risks and
uncertainties. Actual results may differ materially from results
contemplated by the forward-looking statements. When relying on
forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and should not place undue reliance on such
forward-looking statements. The Company does not undertake to
update any forward looking statements, oral or written, made by
itself or on its behalf.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: NaiKun Wind Energy Group Inc. - Media Enquiries Doug
McClelland Director, Communications 604-631-4487
dmcclelland@naikun.ca NaiKun Wind Energy Group Inc. - Investor
Enquiries Peter Murray Manager, Investor Relations 604-631-4494
pmurray@naikun.ca www.naikun.ca
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