Mr. Michael O'Connor reports
NAIKUN WIND RELEASES SECOND QUARTER FINANCIAL RESULTS
Naikun Wind Energy Group Inc. has released its financial results for the three months ended March 31, 2018, a fiscal period in which the
company continued to explore ways to forward the Naikun wind project while controlling its costs. A substantial
restructuring was undertaken in the third quarter of fiscal 2010, and the company has maintained both the expense
profile and the strategic efforts as laid out by the board of directors. Naikun Wind remains confident that this direction
represents the best available opportunities to support the advancement of the project and maximize shareholder value.
For the three months ended March 31, 2018, Naikun Wind incurred a net loss of $200,000 (0.3 cent per share),
compared with $300,000 (0.3 cent per share) for the three months ended March 31, 2017. As at March 31, 2018,
Naikun Wind had $270,000 in cash and cash equivalents, compared with $410,000 at the end of Sept. 30,
2017. These numbers are consistent with the company's planned operations.
Naikun Wind Energy Group, based in British Columbia, is a 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 396-megawatt
offshore wind project would generate enough energy to provide electricity to 200,000 B.C. homes. If the project does
proceed, it is expected to result in an estimated 500 jobs during construction, 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.
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