January 15, 2020
Vancouver, B.C. – NaiKun Wind Energy Group Inc. (TSX-Venture: NKW) (the “Company” or “NaiKun Wind”) today announced the quarterly issuance of shares to the Company’s directors.
In connection with the compensation to members of the Board, as announced in a news release of January 14, 2016, the Company has issued a total of 74,354 common shares to its directors for the quarter ended December 31, 2019. All shares were issued at the closing share price for Tuesday, December 31, 2019 of $0.145.
NaiKun Wind 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 Wind’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.
The NaiKun Wind project is at an advanced stage of development and is engaged in detailed negotiations with a significant offshore wind development company. Given its development status, construction could begin within two years of the award of an electricity purchase agreement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
Michael O’Connor, President & CEO
Tel: 604-631-4483 • Fax: 604-685-4215