Finavera Renewables Holds Annual General Meeting

Finavera Renewables Inc. has announced the completion of its 2010 annual general meeting (AGM). Shareholders reappointed Hein Poulus as chairman, Jason Bak as CEO, and Ian Harvey, Olga Ilich and David Lamont to the board of directors. All of the proposed resolutions were passed at the AGM, including the approval of the company's rolling stock option plan and the shareholder rights plan.

The company continues to invest resources into developing long-term business relationships with the four Treaty 8 First Nations. Finavera has signed a partnership agreement with the McLeod Lake Indian Band and is presently negotiating memorandums of understanding (MOU) with Halfway First Nation, West Moberly First Nation and Saulteau First Nation.

The company also has carried out spring and summer field surveys this year on Wildmare, Meikle, and Tumbler Ridge projects in order to complete the work carried out to date and will begin preparing the environmental assessment certificate applications for submission later this fall.

In addition, Finavera intends to execute binding MOUs for turbines during the second or third quarter of 2011.

SOURCE: Finavera Renewables Inc.


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