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Last C$0.09 CAD
Change Today +0.02 / 30.77%
Volume 30.1K
As of 3:03 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

finavera solar energy inc (FVR) Snapshot

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52 Week High
09/18/14 - C$0.14
52 Week Low
03/11/15 - C$0.06
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finavera solar energy inc (FVR) Details

Finavera Solar Energy, Inc. focuses on the solar energy industry. It intends to provide residential solar system installation services. The company was formerly known as Finavera Wind Energy Inc. and changed its name to Finavera Solar Energy, Inc. in July 2015. Finavera Solar Energy, Inc. was founded in 2003 and is headquartered in Vancouver, Canada.

Founded in 2003

finavera solar energy inc (FVR) Top Compensated Officers

Co-Founder, Chief Executive Officer, Director...
Total Annual Compensation: C$270.0K
Chief Financial Officer
Total Annual Compensation: C$150.0K
Senior Vice President of Wind Energy
Total Annual Compensation: C$180.0K
Compensation as of Fiscal Year 2013.

finavera solar energy inc (FVR) Key Developments

Finavera Wind Energy Inc. Auditor Raises 'Going Concern' Doubt

Finavera Wind Energy Inc. filed its Annual on Jun 11, 2015 for the period ending Dec 31, 2014. In this report its auditor, KPMG LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Finavera Wind Energy Inc. Secures Loan Facility of €3,757,000; Begins Construction of Cloosh Valley Wind Project

Finavera Wind Energy Inc. announced that it has received approval from TSX Venture Exchange and closed a secured loan facility for €3,757,000 (approximately CAD 5,080,000) from a consortium of lenders through the company's subsidiary, Finavera Renewables Ireland Limited, in order to complete the acquisition of Solar Alliance of America and for general working capital. This loan facility will allow the company to scale up Solar Alliance's operations in California though an increased sales presence and additional installation and financing partnerships. The loan has a one year term and is repayable from the €7.14 million (approximately CAD 9.64 million) of proceeds from the sale of the Cloosh Valley Wind Project, expected in 2015. Until repayment, the loan is secured against Finavera Renewables and guaranteed by the company. A finder's fee of €175,000 is payable in connection with the transaction, along with 250,000 warrants of the company with an exercise price of $0.085 and an exercise term of one year. The company also advised that construction has begun on the Cloosh Valley Wind Project and it is anticipated that financial close will occur in 2015, thereby triggering payment to Finavera Renewables.

Artie Rose to Join Finavera Wind Energy Inc.'s Newly Formed Advisory Board

Solar Alliance President and CEO Artie Rose will join Finavera’s newly formed Advisory Board on completion of the transaction.


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