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NaiKun Wind: Results from Annual General and Special Meeting

Press Release

Vancouver, BC – May 15, 2020 – NaiKun Wind Energy Group Inc (TSX-V NKW) (the “Company”) held its Annual General and Special Meeting in Vancouver, British Columbia on May 15, 2020.

With over 37 million shares of the Company voted, the results of items put before the Company’s shareholders include:

  • Election of Board of Directors: Philip Hughes, Joseph Houssian, David Rehn, Arthur Willms and Michael O’Connor were re-elected to the Board of Directors.
  • Re-Appointment of Auditors: KPMG LLP, Chartered Professional Accountants, were re-appointed as auditors of the Company.
  • 10% Rolling Stock Option Plan: The shareholders confirmed and re-approved the Company’s “rolling 10%” stock option plan.
  • Sale of NaiKun Offshore Wind Farm: The shareholders approved, with a vote of 99% of voted shares, the sale of the NaiKun Offshore Wind Farm to Northland Power Inc. by selling them NaiKun Wind Development Inc.
  • Name Change to Oceanic Wind Energy Inc.: The shareholders approved, with a vote of 99% of voted shares, the name change of the Company to Oceanic Wind Energy Inc.

At the AGM, the Company’s CEO, Michael O’Connor, commented: “We are very pleased our shareholders have strongly supported the sale of the Development Company to Northland Power Inc. as this gives the project a new strong developer that has the resources and capability to implement one of the best offshore wind resources in the world.”

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.

NaiKun 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. Given its development status, construction can begin within two years if an electricity purchase agreement can be secured. 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.

For further information please contact:
Michael O’Connor, President & CEO
NaiKun Wind Energy Group Inc.
Tel: 604-631-4483 • Fax: 604-685-4215
Email: [email protected]

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