Offshore, Project Development, Wind Power

NaiKun Wind Energy Group Replaces Uniterre and Funds Relations Firm

NaiKun Wind Energy Group Inc. is the new corporate name for Uniterre Resources Ltd., announced Michael C. Burns, chairman and president. The company’s development efforts have accelerated following a recently completed private placement.

Burns noted that the new name more accurately represents the Vancouver-based company’s primary business, which is development of the NaiKun Wind Farm in the waters of Hecate Strait. When all five phases are built, the NaiKun Wind Farm will be one of the largest offshore wind farms in the world. Concurrent with the change in name, NaiKun Wind Energy Group announced four new appointments as well as its engagement of an investor relations firm, Contact Financial Corp., to help manage the information needs of existing and prospective shareholders. Contact has been granted options entitling it to purchase 100,000 shares of NaiKun Wind Energy Group at an exercise price of $0.42 per share. NaiKun Wind Development Inc. is a wholly owned subsidiary of NaiKun Wind Energy Group.