October 15, 2020
Vancouver, B.C. – Oceanic Wind Energy Inc. (TSX-V: NKW) Oceanic today announced the quarterly issuance of shares to the Company’s Directors.
In connection with the board resolution to reduce the compensation of directors, 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 September 30, 2020. All shares were issued at the closing share price for Wednesday, September 30, 2020 of $0.145.
Oceanic Wind is a British Columbia-based renewable energy company who has been developing an offshore wind project located off B.C.’s northwest coast, where the wind resource is one of the strongest and most consistent in the world.
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.
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These statements relate to the future events or future performance. The use of any of the words “will” and similar expressions and statements are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome of such future events. Actual future results may differ materially. In particular, this press release contains forward looking-information concerning: the sale of all or substantially all of the Company’s assets, the anticipated closing of the Transaction, the successful completion of the Project, and the Cash Consideration and Cash Distribution to be paid under the Agreement. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The material facts and assumptions include, but are not limited to: the Transaction being completed; the process resulting in the completion and development of the Project, and Northland successfully entering into a Power Purchasing Agreement.
Many factors, both known and unknown, could cause actual results to be materially different from the results that are or may be expressed or implied by such forward-looking information contained in this press release. Such factors include, without limitation, the following risks: there may be undue delays in the completion of the Transaction; there may be undue delays or abandonment of the Project, and Northland may be unable to secure a Power Purchasing Agreement.
The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward- looking information. The foregoing statements expressed qualify any forward-looking information contained herein.
For further information please contact:
Michael O’Connor, President & CEO
Tel: 604-631-4483 Fax: 604-685-4215