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BKS Berkley Renewables Inc

0.04
0.00 (0.00%)
12 Aug 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Berkley Renewables Inc CSE:BKS CSE Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.04 0.04 0.04 0 01:00:00

Correction of October 10 News Release Regarding Solar Flow-Through $10m Financing

11/10/2013 8:01pm

Marketwired Canada


Berkley Renewables Inc. (CNSX:BKS)(FRANKFURT:WKN 871666)(BERLIN:WKN 8716666)
wishes to correct its news release of October 10, 2013 regarding the $10 million
financing completed by Solar Flow-Through Limited Partnership. The financing was
completed by Solar Flow-Through 2013-I Limited Partnership ("Solar
Flow-Through"), and not Solar Flow-Through 2012-I Limited Partnership as stated
in the October 10 news release. 


Solar Flow-Through is a limited partnership established by Berkley Renewables
Inc. ("Berkley") under the laws of British Columbia. The funds are earmarked for
development and operation of commercial rooftop solar photovoltaic (solar PV)
projects under the Ontario Power Authority's (OPA) Small Feed-In-Tariff (FIT)
program. In July 2013, Solar Flow-Through and its partners were awarded 52 Small
FIT 2.1 solar PV contracts totaling 12.18 MW AC (approximately 14.62 MW DC).
These projects are expected to be developed during the next eighteen months.


In November and December 2013, Solar Flow-Through intends to apply for
additional commercial rooftop and ground mount solar PV contracts under the OPA
Small FIT 3 program. The company is in discussions with potential partners for
its applications.


Berkley and Solar Flow-Through

Berkley owns 95% of Solar Flow-Through General Partner Ltd., the general partner
of Solar Flow-Through (the "General Partner"), as well as Solar Flow-Through
Management Ltd., the manager of Solar Flow-Through (the "Manager"). The General
Partner is responsible for approving and monitoring Solar Flow-Through's various
service providers, including the Manager. The Manager directs the affairs of,
and provides day-to-day management services to, Solar Flow-Through. In exchange
for its services, the Manager will participate in the profits of the Limited
Partnership. Berkley, as 95% holder of the Manager, will be entitled to 95% of
the profits generated by the Manager.


About Berkley Renewables

Berkley Renewables Inc. is a growth-oriented oil and gas issuer also pursuing
renewable energy opportunities, primarily in the solar energy sector. Solar
Flow-Through, a Canadian-based partnership, was formed to develop and operate
solar photovoltaic power generation projects in the Province of Ontario. Other
information available at www.berkleyrenewables.com and www.solarflowthrough.com.


ON BEHALF OF THE BOARD

Matt Wayrynen, President and Chief Executive Officer

The CNSX has not reviewed and does not accept responsibility for the adequacy or
accuracy of the content of this news release. This release may contain
statements that are considered as forward-looking statements and are subject to
various risks and uncertainties concerning the specific factors disclosed under
the heading "Risk Factors" and elsewhere in the Company's periodic filings with
Canadian securities regulators. Such information contained herein represents
management's best judgment as of the date hereof based on information currently
available. The Company does not assume the obligation to update any
forward-looking statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Berkley Renewables Inc.
Matt Wayrynen
604.682.3701
604.682.3600 (FAX)
info@berkleyrenewables.com
www.berkleyrenewables.com

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