For immediate release:
September 24, 2024 (Vancouver, BC) Oceanic Wind Energy Inc. (NEX-V: NKW.H) announces that further to its press release dated August 29, 2024, the Company is pleased to announce that it has received shareholder approval, via written consent, to the closing of the share purchase agreement with Elemental Energy Inc. (“Elemental”) for the purchase of the Company’s subsidiary, Naikun Wind Development Inc. (“Devco”) for $1,500,000 (the “Purchase Price”). The Purchase Price will be paid by Elemental in three installments as follows:
- $550,000 shall be paid to the Company on closing;
- $475,000 shall be paid to the Company on the first anniversary of closing; and
- $475,000 shall be paid to the Company on the second anniversary of
Closing is set for October 1, 2024.
As noted above, shareholders voted via written consent wherein 39,283,299 of votes were cast “FOR” of the 69,459,794 eligible votes by disinterested shareholders or 57% approval.
On behalf of the Board Oceanic Wind Energy Inc.
Michael O’Connor, President & CEO
Tel: 604-631-4483
Email: moconnor@oceanicwind.ca
Caution Regarding Forward-Looking Statements – This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to several risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.
Neither TSX Venture Exchange, NEX 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.
