Finavera Wind Energy Inc. has announced that it intends to issue 200,955 shares for the settlement of an aggregate of $42,200 of debt at a price of $0.21 per share.
The transaction is subject to the acceptance of the TSX Venture Exchange, and the settlement shares issued to insiders will be subject to a four-month hold period from the date on which the shares are issued.
In addition, Finavera has appointed David Emes as vice president of finance and an officer of the company. Emes has served as controller for Finavera since February 2007 and has focused on project financial modeling, financial reporting, corporate compliance and financial analysis.
