The TSX Venture Exchange has accepted for filing an arrangement agreement dated Oct. 3, 2023, between the company, Revolve Acquisition Corp. (the purchaser), a wholly owned Alberta subsidiary of the company, and WindRiver Power Corp. According to the terms of the arrangement agreement, the purchaser acquired all of the outstanding common shares of WindRiver in exchange for 21.787175502 cents in cash per common share for total gross upfront consideration of $4.85-million. The purchaser may also make contingent payments of up to $14-million, depending on the achievement of various milestones and events related to WindRiver's Tamihi Creek and Kinskuch Lake hydro projects. Additionally, the company has agreed to pass through $5.7-million in contingent payments expected to be received by WindRiver from assets previously sold to third parties.

This transaction is arm's length in nature and no finder's fee is payable.

For further details, please refer to the company's news releases dated Oct. 4, 2023, Nov. 7, 2023, Nov. 10, 2023, and Feb. 13, 2024.