Revolve CEO Increases Ownership Position to 6%

Rhea-AI Summary

Revolve Renewable Power Corp.'s CEO, Steve Dalton, acquires 133,500 common shares, increasing his shareholding to 6.01% of the total issued shares. The securities were acquired for investment purposes, with potential future transactions.

VANCOUVER, BC / ACCESSWIRE / April 9, 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 that the Company's CEO, Steve Dalton, has indirectly acquired 133,500 common shares of Revolve in the open market in a series of purchases between March 8 and April 5, 2024 (the "Transactions"). The Transactions have increased his shareholding in the Company to 3,787,767 common shares, or 6.01%, of the total issued and outstanding shares of the Company.

The securities were acquired for investment purposes. Mr. Dalton has a long-term view of the investment and may, in the future, acquire and/or dispose of securities through the open market, through private transactions or through the Company's long-term incentive plan as circumstances or market conditions may warrant.

Full details of the trades are available on www.sedi.ca.

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 approximately 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 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; 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.

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 ticker symbol for Revolve Renewable Power Corp.?

The ticker symbol for Revolve Renewable Power Corp. is REVVF.

How many common shares did Steve Dalton acquire?

Steve Dalton acquired 133,500 common shares of Revolve Renewable Power Corp.

What percentage of the total issued shares does Steve Dalton now own?

Steve Dalton now owns 6.01% of the total issued shares of Revolve Renewable Power Corp.

Where can the full details of the trades be found?

The full details of the trades can be found on www.sedi.ca.