Canadian Hydro Developers Inc., a Calgary, Alberta-based renewable energy developer, has acquired all of the issued and outstanding common shares of Vector Wind Energy Inc., a wind project developer headquartered in Ottawa, Ontario.
The agreement was approved by more than 99.2% of the votes cast by Vector's shareholders. According to the company, none of Vector's shareholders or warrantholders exercised their dissent rights with respect to the arrangement. In addition, the acquisition was approved by the Ontario Superior Court of Justice.
Canadian Hydro purchased the shares at $0.30 per share for a total of $5.3 million.