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Affymax, Inc. (AFFY) Message Board

aditc31 2 posts  |  Last Activity: Dec 4, 2014 10:23 AM Member since: Jan 12, 2012
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  • aditc31 by aditc31 Dec 4, 2014 10:23 AM Flag

    Finavera Wind Energy Releases Third Quarter Results
    VANCOUVER, Dec. 4, 2014 /CNW/ - Finavera Wind Energy Inc. ('Finavera Wind Energy', 'Finavera' or the 'Company') (TSX-V: FVR), a developer of renewable energy projects, has released its unaudited condensed consolidated interim financial statements and related management discussion and analysis ("MD&A") for the three and nine month periods ended September 30, 2014.

    Highlights

    The Pattern Transaction: In July 2014, the Company entered into an early settlement agreement with Pattern Renewable Holdings Canada ULC ("Pattern") where the parties settled the final payment that the Company was to receive at the financial close of the Meikle Wind Energy Project. The Company settled all of its debts with Pattern, including a development loan, working capital facility, interest, other amounts deductible under the Purchase and Sale Agreement, and legal fees. The total consideration received from Pattern in 2014 was $24,723,881.
    The SSE Transaction: In July 2014, the Company entered into an agreement with SSE Renewables Ltd. ("SSE") and completed the sale of its remaining 10% interest in the Cloosh Valley Wind Project in Ireland (the "Cloosh Project") for #$%$2.1 million. Concurrent with the sale, the Company settled debt with a secured creditor for $1.5 million, plus interest and legal fees.

    The Company held a 100% interest in the Cloosh Project which it began developing in 2005, and sold 90% of it to SSE in 2010 for #$%$8.40 million. At the time, #$%$1.26 million was received on signing and at the closing of project construction financing, currently anticipated in the first quarter of 2015, the Company is to receive the remaining #$%$7.14 million (approximately $10.1 million).

    The Solar Alliance of America Transaction: In August 2014, the Company signed an agreement to acquire Solar Alliance of America, Inc. ("Solar Alliance") for US $4 million cash and US $2 million in Finavera shares, valued at $0.21 per share. This transaction

  • Reply to

    90 Days...

    by freshcope99 Nov 24, 2014 4:45 AM
    aditc31 aditc31 Nov 24, 2014 12:52 PM Flag

    Things are going well, we will have more detail to release with our Q3 results at the end of the month. Happy to talk in more detail after that.

    I don’t have a transcript of the AGM, but we do have minutes. I will see if these can be released.

    Regards,
    Jason Bak

AFFY
0.10Dec 26 3:54 PMEST

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