WINNIPEG, MB / ACCESSWIRE / November 30, 2022 / Bird River Resources Inc. (CSE:BDR) (the "Company" or "Bird River"), announces that the Board of Directors passed a resolution to cancel 1,250,000 options ("Options") to purchase common shares ("Common Shares") of the Company which were previously granted to employees, advisors and consultants of the Company, effective November 7, 2022.
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.
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.
For further information, contact:
| Bird River Resources Inc. | Faraday Energy Inc. |
| Jon Bridgman, CEO & Director | Martin Dallaire, CEO & Director |
| Tel: 1-877-587-0777 | Tel: 1-819-763-6663 |
| Email: [email protected] | email: [email protected] |
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. NEITHER THE CSE NOR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
SOURCE: Bird River Resources Inc.