‘The sale of our ocean energy division completes our corporate transition to a pure wind company,’ says Jason Bak, CEO of Finavera Renewables. ‘The AquaBuOY technology has the potential to become a viable renewable energy alternative, and this transaction will provide significant benefits to Finavera.’
Pursuant to the agreement, the purchaser will issue to Finavera Renewables 10% of its issued and outstanding shares if and when a public listing is secured. The purchaser also assumes all liabilities and debts associated with FVROE.
SOURCE: Finavera Renewables Inc.
