Wind and wave company Finavera Renewables Inc. (TSX VENTURE:FVR) opened for trading today on Canada’s TSX Venture Exchange. The listing was achieved via the reverse take over (RTO) of Cascade Minerals Inc., a TSX-V listed company. The RTO, which constituted the Company’s Qualifying Transaction with the TSX-V, values the Company at approximately CAD $35 million.
Jason Bak, CEO comments, “This listing provides Finavera Renewables with a platform for growth as we continue to raise capital and advance our renewable energy projects and our wave energy technology.”
Finavera is the only company listed on a North American exchange that is commercialising a wave energy technology.
The company also completed a private placement which was announced on June 15, 2006. The placement consists of a total of 7,514,336 flow-through shares with a purchase price of $0.20 per share.
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