NaiKun Wind Energy Group Announces Grant of Options and Warrants (Canada)
NaiKun Wind Energy Group Inc. announces that on July 5, 2011 a total of 830,000 incentive stock options and 1,660,000 warrants have been granted to certain directors, officers, employees and consultants of the Company pursuant to the Company’s Stock Option Plan and the Company’s Amended and Restated 2008 Warrant Plan.
The options are exercisable for a period of five years from the date of grant at a price of $0.145 per share and shall vest as to 25% on the date of grant and an additional 25% every six months thereafter. The warrants are exercisable at a price of $0.63 per share upon achieving Financial Close, as defined in the warrant plan, and all warrants expire on the earlier of two years from Financial Close and September 30, 2016.
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, NaiKun’s Phase I 396MW offshore wind project would generate enough energy to provide electricity to 130,000 B.C. homes. The NaiKun 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.
Source: NaiKun , July 08, 2011;