Revolve Announces Grant of Deferred Share Units

Rhea-AI Summary

Revolve Renewable Power Corp. announces the grant of 335,784 Deferred Share Units (DSUs) to the Company's directors under the Deferred Share Unit Plan. Each DSU entitles the holder to receive one share of the Company or a cash payment equal to the share's value upon ceasing to be a director. The DSUs vest after one year from the grant date, issued quarterly at a price of C$0.30 per share in place of cash director's fees.

VANCOUVER, BC / ACCESSWIRE / April 18, 2024 / Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF) ("Revolve" or the "Company"), a North American owner, operator and developer of renewable energy projects, announces the grant of Deferred Share Units ("DSUs") to the Company's directors effective April 18, 2024. A total of 335,784 DSUs have been granted under the Company's Deferred Share Unit Plan adopted on July 6, 2022. Each DSU entitles the holder to receive one share of the Company, or in certain circumstances a cash payment equal to the value of one share of the Company, at the time the holder ceases to be a director of the Company.

The DSUs vest one year from the date of grant and have been granted for the third quarter (Q3 2024) at a price of C$0.30 per share. The Company issues DSUs at the end of each quarter in lieu of cash director's fees.

About Revolve

Revolve was formed in 2012 to capitalize on the growing global demand for renewable power. Revolve develops utility-scale wind, solar, hydro and battery storage projects in the US, Canada and Mexico with a portfolio of approx. 3,070MW under development. The Company has a second division, Revolve Renewable Business Solutions which installs and operates sub 20MW "behind the meter" distributed generation (or "DG") assets. Revolve Renewable Business Solutions currently has an operating portfolio of 6MW with an additional 3MW under construction phase and 146MW under development.

Revolve has an accomplished management team with a demonstrated track record of taking projects from "greenfield" through to "ready to build" (or "RTB") status and successfully concluding project sales to large operators of utility-scale renewable energy projects. To-date, Revolve has developed and sold over 1,550MW of projects.

Revolve is targeting 5,000MW of utility-scale projects under development in the US, Canada and Mexico, and in parallel is rapidly growing its portfolio of revenue-generating DG (distributed generation) assets.

For further information contact:

Steve Dalton, CEO
IR@revolve-renewablepower.com

Or

Sunita Prasad
VP, Corporate Development & Investor Relations
Phone:1-778-885-5550
IR@revolve-renewablepower.com

Forward Looking Information

Although Revolve believes, considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because Revolve can give no assurance that they will prove to be correct. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the business plans of Revolve and Revolve's management's expectation on the growth and performance of its business in the United States and Mexico, including the planned MW capacity of its projects; its expansion into the distributed generation market; potential opportunities in the distributed generation market; the completion and timing of the development of its planned portfolio of distributed generation projects; the completion of the Transaction, including final approval of the transaction by the TSXV; potential revenues and cashflows generated from its DG division; and the Company's plans to develop, construct and finance rooftop solar, battery storage and energy efficiency projects of up to 5MW and enter into long term power purchase agreements for the sale of electricity from the projects with the underlying customers. Such statements and information reflect the current view of Revolve and/or Revolve, respectively.

The forward-looking statements contained in this news release are based on current expectations, estimates, projections and assumptions, having regard to the Company's experience and its perception of historical trends, and includes, but is not limited to, expectations, estimates, projections and assumptions relating to the extent of regulations pertaining to the Company's projects and Revolve's ability to continue as going concern. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information, including but not limited to: the effects of weather, catastrophes and public health crises, including COVID-19; labour availability; disruptions to the Company's supply chains; changes to regulatory environment, including interpretation of production tax credits; armed hostilities and geopolitical conflicts; failure to obtain necessary regulatory approvals in a timely fashion, or at all; risks related to the development and potential development of the Company's projects; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; the availability of tax incentives in connection with the development of renewable energy projects and the sale of electrical energy; as well as those factors discussed in the sections relating to risk factors discussed in the Company's continuous disclosure filings on SEDAR. Such statements and information reflect the current view of Revolve. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

The forward-looking information contained in this press release represents the expectations of Revolve as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Revolve does not undertake to update this information at any particular time except as required in accordance with applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Revolve Renewable Power Corp.

View the original press release on accesswire.com

FAQ

What is the announcement made by Revolve Renewable Power Corp. regarding Deferred Share Units (DSUs)?

Revolve Renewable Power Corp. announced the grant of 335,784 DSUs to the Company's directors under the Deferred Share Unit Plan.

How many DSUs have been granted by Revolve Renewable Power Corp.?

A total of 335,784 DSUs have been granted by Revolve Renewable Power Corp.

When do the DSUs granted by Revolve Renewable Power Corp. vest?

The DSUs granted by Revolve Renewable Power Corp. vest one year from the date of grant.

At what price were the DSUs granted by Revolve Renewable Power Corp. for the third quarter (Q3 2024)?

The DSUs granted by Revolve Renewable Power Corp. for the third quarter (Q3 2024) were priced at C$0.30 per share.

Why does Revolve Renewable Power Corp. issue DSUs at the end of each quarter?

Revolve Renewable Power Corp. issues DSUs at the end of each quarter in lieu of cash director's fees.