NKW Oceanic Wind Energy Inc

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES 


NaiKun Wind Energy Group Inc. (TSX VENTURE:NKW) ("NaiKun" or the "Company") and
Mr. Joseph Houssian, a director and insider of the Company, are pleased to
announce that, following receipt of approval of the Company's disinterested
shareholders at the Company's annual general and a special meeting held June 26,
2014, it has closed the private placement previously announced on April 25, 2014
of the sale of 10,000,000 units (the "Units") to Joseph Houssian, a director of
the Company. The 10,000,000 Units were issued at a price of $0.07 per Unit for
gross proceeds of $700,000 with each Unit consisting of one common share of the
Company (a "Common Share") and 0.75 common share purchase warrant (each whole
warrant, a "Warrant"). Each whole Warrant will entitle Mr. Houssian, the holder,
to acquire a Common Share at the exercise price of $0.10 per share until July
14, 2019. 


NaiKun intends to use the net proceeds from the Offering for general corporate
purposes, including working capital, to further the development of the Haida
Energy Field Project.


All securities issued in connection with the Private Placement are subject to a
prescribed four month hold and restricted trading period pursuant to applicable
securities laws ending on November 15, 2014.


Pursuant to the Private Placement, Mr. Houssian, a director of NaiKun, acquired
ownership and control of 10,000,000 Shares of the Company at a price of $0.07
per Share, which are subject to the prescribed four month hold and restricted
trading period. Together with securities previously acquired by Mr. Houssian,
Mr. Houssian holds 10,301,250 common shares of the Company representing
approximately 19.44% of the issued and outstanding Shares of NaiKun. The Company
has been advised that Mr. Houssian acquired the Shares for investment purposes
and may acquire additional Shares or could dispose of Shares as he sees fit,
subject to applicable securities trading and disclosure rules and regulations. A
copy of the Early Warning Report will be filed with the applicable securities
regulators in respect of the above acquisition and will be available at
www.sedar.com under NaiKun's SEDAR profile.


As previously reported, Mr. Houssian will work with the Company's board of
directors (the "Board"), Mike O'Connor (Chief Executive Officer of the Company),
and the Company's officers, employees, consultants, suppliers (including
Siemens), and staff to complete the project. Mr. Houssian will provide
considerable experience, resources and time to develop the Haida Energy Field
Project; the first offshore wind project in Canada. He will provide his services
at no cost to the Company.


Mr. Houssian has extensive experience in business development, growth, and
operations. Mr. Houssian founded Intrawest Corporation ("Intrawest"), a global
developer and operator of luxury mountain, golf, and beach resorts. Intrawest's
operations and ancillary businesses included Abercombie & Kent, which operates
in 100 countries. When sold in 2006, Intrawest employed 25,000 people with
annual revenues over $1.5 billion. Currently, Mr. Houssian is Chairman and
founder of Intracorp Development, an urban real estate development company and
Elemental Energy Inc., a renewable energy development and operating company. He
has also served on the boards of Versacold Corporation, Lions Gate Entertainment
Corp and BC Hydro.


NaiKun is also pleased to announce that at its annual general and special
meeting the shareholders re-elected Philip Hughes, Michael C. Burns, Joseph
Houssian, Michael O'Connor and David Rehn to the Board of Directors and
re-appointed KPMG LLP, Chartered Accountants as auditors of the Company.


About NaiKun Wind

NaiKun Wind is a British Columbia-based renewable energy company. Located on
B.C.'s northwest coast, where the wind resource is one of the strongest and most
consistent in the world, NaiKun Wind's 396MW offshore wind project would
generate enough energy to provide electricity to 130,000 B.C. homes. If the
project does proceed it is expected to result in an estimated 500 jobs during
construction, 50 permanent jobs for maintenance and operations and over $400
million in direct expenditures in the province during construction, of which
$250 million will benefit North Coast communities.


The NaiKun Wind project is at an advanced stage of development with
environmental approvals from the Provincial and Federal Governments and
agreements in place with key suppliers and First Nations. Given its development
status, construction can begin within two years of the award of an electricity
purchase agreement. For more information on NaiKun Wind, please visit
www.naikun.ca.


Forward-Looking Information

This news release contains statements which are not current statements or
historical facts and are "forward-looking information" within the meaning of
applicable Canadian securities laws. All statements, other than statements of
historical fact, contained in this news release constitute forward-looking
information. Wherever possible, words such as "plans", "expects" or "does not
expect", "budget", "forecasts", "projections", "anticipate" or "does not
anticipate", "believe", "intent", "potential", "strategy", "schedule",
"estimates" and similar expressions or statements that certain actions, events
or results "may", "could", "would", "might" or "will" be taken, occur or be
achieved and other similar expressions have been used to identify
forward-looking information. These forward-looking statements relate to, among
other things, the completion of the Offering and the Company's expectations
regarding the use of proceeds from the Offering.


Although the forward-looking information in this news release reflects the
Company's current beliefs on the date of this news release based upon
information currently available to management and based upon what management
believes to be reasonable assumptions, the Company cannot be certain that actual
results, performance, achievements, prospects and opportunities, either
expressed or implied, will be consistent with such forward-looking information.
By its very nature, forward-looking information necessarily involves significant
known and unknown risks, assumptions, uncertainties and contingencies that may
cause the Company's actual results, assumptions, performance, achievements,
prospects and opportunities in future periods to differ materially from those
expressed or implied by such forward-looking information. These risks and
uncertainties include, but are not limited to, the successful closing of the
Offering, the receipt of funds from Mr. Houssian, and the successful development
of the Haida Energy Field Project. There may be other factors that cause
results, assumptions, performance, achievements, prospects or opportunities in
future periods not to be as anticipated, estimated or intended.


There can be no assurances that forward-looking information and statements will
prove to be accurate, as many factors and future events, both known and unknown
could cause actual results, performance or achievements to vary or differ
materially, from the results, performance or achievements that are or may be
expressed or implied by such forward-looking statements contained in this news
release. Accordingly, all such factors should be considered carefully when
making decisions with respect to the Company, and prospective investors should
not place undue reliance on forward-looking information. The Company assumes no
obligation to update or revise forward-looking information to reflect changes in
assumptions, changes in circumstances or any other events affecting such
forward-looking information, except as required by applicable law.


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


FOR FURTHER INFORMATION PLEASE CONTACT: 
NaiKun Wind Energy Group Inc.
Michael O'Connor
President & CEO
Tel: 604-639-8460
604-685-4215 (FAX)
Email: info@naikun.ca
www.naikun.ca

Oceanic Wind Energy (TSXV:NKW)
Historical Stock Chart
From May 2024 to Jun 2024

Oceanic Wind Energy (TSXV:NKW)
Historical Stock Chart
From Jun 2023 to Jun 2024