05:08:37 EDT Mon 29 Apr 2024
Enter Symbol
or Name
USA
CA



Naikun Wind Energy Group Inc
Symbol NKW
Shares Issued 53,480,604
Close 2015-02-27 C$ 0.17
Market Cap C$ 9,091,703
Recent Sedar Documents

ORIGINAL: Naikun Wind loses $400,000 in Q1 2015

2015-02-27 20:24 ET - News Release

Received by email:

File: NKW-NR-Q1Dec2014Results.pdf

                    NaiKun Wind Releases First Quarter Financial Results
For Immediate Release                                                                       February 27, 2015

Vancouver, B.C. � February 27, 2015 � NaiKun Wind Energy Group Inc. (TSX-Venture: NKW) (the "Company"
or "NaiKun Wind") today announced its financial results for the three months ended December 31, 2014, 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 December 31, 2014, NaiKun Wind incurred a net loss of $0.4 million ($0.01 per
share), compared to $0.4 million ($0.01 per share) for the three months ended December 31, 2014. As at
December 31, 2014 NaiKun Wind had $1.9 million in cash and cash equivalents, compared to $2.5 million at
the end of September 30, 2014. These numbers are consistent with the Company's planned operations.

For fiscal 2015, the Company expects cash operating expenditures to be approximately $1.6 million. On this
basis, the Company has sufficient financial resources to sustain operations through 2015.

NaiKun Wind Energy Group Inc. 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
Wind's 396MW 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.

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.




                        Suite 615 � 1140 West Pender Street, Vancouver, BC Canada V6E 4G1
                          Telephone: 604-639-8460  Fax: 604-685-4215  www.naikun.ca
 The NaiKun Wind 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 if an electricity purchase agreement can be
secured. For more information on NaiKun Wind, please visit www.naikun.ca.

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: 604-639-8460 � Fax: 604-685-4215
Email: info@naikun.ca




                       Suite 615 � 1140 West Pender Street, Vancouver, BC Canada V6E 4G1
                          Telephone: 604-639-8460  Fax: 604-685-4215  www.naikun.ca
 


© 2024 Canjex Publishing Ltd. All rights reserved.