VANCOUVER, British Columbia, Aug. 21, 2019 (GLOBE NEWSWIRE) -- NaiKun Wind Energy Group Inc. (“NaiKun”)   [TSX-V - NKW] announces that it has signed an indicative offer with a major offshore wind development company to develop its world class wind resource in Hecate Strait, a few kilometers east of Haida Gwaii, within the traditional territory of the Haida Nation. The parties are working to negotiate and sign a definitive agreement in the next few weeks. The definitive agreement, with this major offshore wind company, will provide leading-edge technical expertise, dedicated financial resources, and will establish a framework for a long-term relationship.

Michael O’Connor, President and CEO was quoted, “After months of work and lengthy engagements with numerous offshore wind companies, we are very pleased to be making this step to see the project move forward into a significant development phase. We look forward to starting a new and positive partnership with the Haida Nation.”  

A further update will be provided on the signing of the definitive agreement.

NaiKun cautions the definitive agreement negotiations are not complete.  The final agreement, if successfully completed, will be subject to shareholder, regulatory and TSX Venture Exchange approval.  

About NaiKun Wind Energy Group Inc.

NaiKun is a British Columbia-based renewable energy company.  NaiKun’s offshore wind project is located on B.C.’s northwest coast, where the wind resource is one of the strongest and most consistent in the world.  NaiKun’s common shares trade on the TSX Venture Exchange under the symbol NKW.

Caution Regarding Forward-Looking Statements

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 several 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.

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.

NaiKun Wind Energy Group Inc.
Contact: Mike O’Connor, President & CEO
Tel: 604-631-4483
Email: moconnor@naikun.ca
Website: www.naikun.ca