October 15, 2019 – For Immediate Release
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 53,906 common shares to its directors for the quarter ended September 30, 2019. All shares were issued at the closing share price for Monday, September 30, 2019 of $0.20.
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 with environmental approvals from the Provincial and Federal Governments and agreements in place with key suppliers and First Nations. Given its development status, construction can begin within two years of the award of an electricity purchase agreement. For more information on NaiKun Wind, please visit www.naikun.ca.
For further information please contact:
Michael O’Connor, President & CEO