NaiKun Wind Energy Group Announces Intention to Amend Outstanding Warrants
Vancouver. B.C., May 8, 2019 – NaiKun Wind Energy Group Inc. (TSX-V: NKW) (“NaiKun” or the “Company”) announces that it intends to make an application to the TSX Venture Exchange (the “TSX- V”) to amend the exercise price of 3,651,308 common share purchase warrants (the “Warrants”) issued to subscribers as part of the Company’s non-brokered private placement (the “Private Placement”) of units of the Company (“Units”) which closed on September 7, 2016. Units that were issued pursuant to the Private Placement consisted of one common share of the Company and one-half of one Warrant, with each whole Warrant entitling the holder to purchase an additional common share until September 7, 2019 at an exercise price of $0.15. The Company intends to amend the exercise price of the Warrants from $0.15 to $0.10. All other terms of the Warrants remain the same.
Re-pricing of the Warrants remains subject to the approval of the TSX-V.
About NaiKun
NaiKun is a British Columbia-based renewable energy company. Located on B.C.’s northwest coast, where the wind resource is one of the strongest and most consistent in the world, NaiKun’s 396MW offshore wind project would generate enough energy to provide electricity to 130,000 B.C. homes. If the project does proceed it is expected to result in an estimated 500 jobs during construction, 50 permanent jobs for maintenance and operations and over $400 million in direct expenditures in the province during construction, of which $250 million will benefit North Coast communities.
For further information please contact:
Michael O’Connor, President & CEO
NaiKun Wind Energy Group Inc.
Tel: 604-631-4483 • Fax: 604-685-4215
Email: info@naikun.ca
NT4
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