NaiKun Wind Energy Group Inc.
TSX VENTURE : NKW

NaiKun Wind Energy Group Inc.

March 18, 2011 17:00 ET

NaiKun Wind: Results from Annual General Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2011) - NaiKun Wind Energy Group (TSX VENTURE:NKW) (the "Company") held its Annual General Meeting in Vancouver, British Columbia on March 16, 2011.

The results of voting on matters put before the Company's shareholders include:

  • Election of Board of Directors: Philip Hughes (Chair), Michael C. Burns, Michael O'Connor, Joseph Houssian, Ken McCready, David Rehn and Graham Wilson were re-elected to the Board of Directors.
  • Amended & Restated 2008 Warrant Plan: The Company is pleased to announce that the TSX Venture Exchange (the "Exchange") has accepted the Company's amendments to the 2008 Warrant Plan as outlined in the Company's Information Circular, dated February 9, 2011. The Amended & Restated Warrant Plan received approval from disinterested shareholders.
  • Re-Appointment of Auditors: KPMG LLP, Chartered Accountants, were re-appointed as auditors of the Company.

"On behalf of the Company, I would like to take this opportunity to thank our shareholders and partners for their ongoing support," said NaiKun Wind's CEO Michael O'Connor. "We remain confident in the Company's vision of developing Canada's first offshore wind energy project and look forward to continuing to work with our project partners to achieve this goal."

NaiKun Wind Energy Group Inc. 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. The project is expected to result in an estimated 500 jobs during construction and 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 and agreements in place with key suppliers and First Nations and is now in a position to begin construction within two years of receiving an energy purchase agreement. For more information on NaiKun Wind, please visit www.naikun.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 a number of 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.

Michael O'Connor, President and CEO

NaiKun Wind Energy Group Inc.

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.

Contact Information

  • NaiKun Wind Energy Group Inc.
    Media and Investor Enquiries
    604-631-4494
    www.naikun.ca