Revolve Announces Grant of Deferred Share Units and Incentive Stock Options
Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF) has announced the grant of 308,944 Deferred Share Units (DSUs) to its directors, effective July 19, 2024. These DSUs, priced at C$0.33 per share, vest after one year and are issued quarterly in lieu of cash director's fees. Additionally, the company has granted 475,000 incentive stock options to officers, employees, and consultants, exercisable at $0.50 per share. These options will vest one year from the grant date and expire on August 30, 2027. Both the DSUs and stock options are subject to regulatory approval and a four-month resale restriction.
Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF) ha annunciato la concessione di 308.944 Unità di Azioni Differite (DSU) ai suoi direttori, con decorrenza dal 19 luglio 2024. Queste DSU, valutate A C$0,33 per azione, maturano dopo un anno e vengono emesse trimestralmente in sostituzione delle commissioni in denaro per i direttori. Inoltre, l'azienda ha concesso 475.000 opzioni su azioni incentivanti a dirigenti, dipendenti e consulenti, esercitabili a $0,50 per azione. Queste opzioni matureranno un anno dalla data di concessione e scadranno il 30 agosto 2027. Sia le DSU che le opzioni su azioni sono soggette ad approvazione regolamentare e a una restrizione alla rivendita di quattro mesi.
Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF) ha anunciado la concesión de 308,944 Unidades de Acciones Diferidas (DSUs) a sus directores, con vigencia a partir del 19 de julio de 2024. Estas DSUs, valoradas en C$0.33 por acción, devengan después de un año y se emiten trimestralmente en lugar de honorarios en efectivo para los directores. Además, la empresa ha concedido 475,000 opciones sobre acciones de incentivo a funcionarios, empleados y consultores, ejercitables a $0.50 por acción. Estas opciones se devengarán un año a partir de la fecha de concesión y caducarán el 30 de agosto de 2027. Tanto las DSUs como las opciones sobre acciones están sujetas a aprobación regulatoria y a una restricción de reventa de cuatro meses.
Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF)는 이사회에 308,944개의 연기주식유닛(DSU)을 부여한다고 발표했으며, 이는 2024년 7월 19일부터 유효합니다. 이 DSU는 C$0.33의 주당 가격으로, 1년 후에 권리가 발생하고 현금 이사 수수료 대신 분기별로 발행됩니다. 또한, 회사는 임직원 및 컨설턴트에게 475,000개의 인센티브 주식옵션을 부여하였으며, 이는 $0.50의 주당 가격으로 행사할 수 있습니다. 이 옵션은 부여일로부터 1년 후에 권리가 발생하며 2027년 8월 30일에 만료됩니다. DSU와 주식 옵션 모두 규제 승인을 받고 4개월의 재판매 제한이 적용됩니다.
Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF) a annoncé l'octroi de 308.944 unités d'actions différées (DSU) à ses administrateurs, effectif à partir du 19 juillet 2024. Ces DSU, évaluées à 0,33 $ CA par action, prennent effet après un an et sont émises trimestriellement en lieu et place des honoraires des administrateurs en espèces. De plus, la société a accordé 475.000 options d'actions incitatives à des dirigeants, employés et consultants, exerçables à 0,50 $ par action. Ces options prendront effet un an après la date d'octroi et expireront le 30 août 2027. Les DSU et les options d'actions sont toutes deux soumises à une approbation réglementaire et à une restriction de revente de quatre mois.
Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF) hat die Gewährung von 308.944 Deferred Share Units (DSUs) an seine Direktoren bekannt gegeben, mit Wirkung zum 19. Juli 2024. Diese DSUs, die mit C$0,33 pro Aktie bewertet sind, werden nach einem Jahr fällig und vierteljährlich anstelle von Barhonoraren für Direktoren ausgegeben. Darüber hinaus hat das Unternehmen 475.000 Anreiz-Aktienoptionen an Führungskräfte, Mitarbeiter und Berater gewährt, die zu $0,50 pro Aktie ausgeübt werden können. Diese Optionen werden ein Jahr nach dem Gewährungsdatum fällig und laufen am 30. August 2027 ab. Sowohl die DSUs als auch die Aktienoptionen unterliegen der Genehmigung durch die Aufsichtsbehörden und einer viermonatigen Wiederverkaufsbeschränkung.
- Granting of DSUs and stock options may help align interests of directors, officers, and employees with shareholders
- DSUs issued in lieu of cash director's fees may help conserve company cash
- Potential dilution of existing shareholders due to the issuance of new shares upon exercise of DSUs and stock options
- Stock options granted at a 51.5% premium to the DSU price, which may be challenging to reach
VANCOUVER, BC / ACCESSWIRE / August 30, 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 Company's directors effective July 19, 2024. A total of 308,944 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 fourth quarter (Q4 2024) at a price of C
Additionally, the Company had granted incentive stock options for an aggregate of 475,000 common shares, subject to regulatory approval, to officers, employees and consultants of the Company under the stock option plan approved at the Annual and Special Meeting held on December 29, 2023.
The stock options are exercisable at a price of
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. 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's portfolio includes the following:
Operating Assets: 11MW (net) of operating assets under long term power purchase agreements across Canada and Mexico covering wind, solar, battery storage and hydro generation;
Under Construction: a 3MW CHP project and a 450kWp rooftop solar project that are both under construction and expected to be operational later this year; and
Development: a diverse portfolio of utility scale development projects across the US, Canada and Mexico with a combined capacity of over 3,000MWs as well as a 140MW+ distributed generation portfolio that is under development.
Revolve has an accomplished management team with a demonstrated track record of taking projects from "greenfield" through to "ready to build" 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.
Going forward, 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 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
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