Bird River is pleased to report that its planned transaction with Faraday Energy Inc. (“Faraday”) a hydroelectric power producer is progressing very well. Faraday is currently awaiting the completion of the audit of its financial statements for the year-end January 31, 2022. Faraday’s Founder & CEO Mr. Martin Dallaire has kept Bird River’s management updated on a regular basis about Faraday’s operations. The power plants are performing well and have recently received their yearly indexed price increase for 2023 from Hydro-Quebec.
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About Bird River Resources Inc.
Founded in 1958, Bird River Resources Inc. is a Canadian natural resources company with a focus on the renewable energy sector and resource exploration activities. The company holds a net royalty smelter (NSR) interest on a platinum palladium property in the Bird River Sill area of northeastern Manitoba near the Ontario border.
About Faraday Energy Inc.
Faraday Energy Inc. is a private Quebec corporation which owns two subsidiaries, Hydro-Abitibi Inc. and Renewable Energy Abitibi Inc. The Subsidiaries operate two hydro-electric power plants, Centrale Hydro-Électrique La Sarre 1 (1,050 KWh) and Centrale Hydro-Électrique La Sarre 2. The Power Plants have a combined output of approximately 1,850 KWh, and are located on the La Sarre River, approximately 75 km north of Rouyn-Noranda, Quebec, and 700 km north of Toronto, Ontario.
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This news release is for information purposes only and no statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities and may contain forward looking statements that are based upon current expectations or beliefs as well as a number of assumptions about future events and words such as may, should, could, will, expect, anticipate, estimate, believe, intend, project should not be taken out of context.
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