Financial News

Etrion Announces Agreement to Sell the 9.5 MW Misawa Solar Project to Japanese Consortium for Total Cash Consideration of approximately JPY 1.6 billion

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GENEVA, June 03, 2021 (GLOBE NEWSWIRE) — Etrion Company (“Etrion” or the “Firm”) (TSX: ETX) (OMX: ETX), a photo voltaic impartial energy producer, at this time introduced that Photo voltaic Assets Holding Sàrl and Etrion Japan Okay.Okay., wholly-owned subsidiaries of the Firm, have entered into agreements (the “Switch Agreements)” to promote their pursuits within the Firm’s 9.5 MW Misawa working photo voltaic power challenge to a Japanese firm, GK Misawa Photo voltaic, for an combination internet buy value of roughly JPY 1.6 billion (or USD 14.6 million), topic to sure changes at closing.

Completion of the sale of the 9.5 MW Misawa challenge pursuant to the Switch Agreements is topic to sure situations precedent together with all obligatory regulatory and third-party approvals, in addition to the customer being glad with the Firm’s restoration plan for the Misawa challenge. The closing the transaction is at the moment anticipated to happen earlier than the tip of July 2021.

Administration Feedback

Marco A. Northland, Etrion’s Chief Govt Officer, commented: “We’re very happy to have signed the settlement for the sale of the 9.5 MW Misawa photo voltaic working challenge; in parallel, we’re extraordinarily targeted in finishing the restore plan for the total restoration of the plant forward of the anticipated closing of the transaction earlier than the tip of July.”

Etrion was suggested on this transaction by Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.

About Etrion
Etrion Company is an impartial energy producer that develops, builds, owns and operates utility-scale solar energy era crops. The Firm owns and operates 57 MW of photo voltaic capability in Japan. The Firm is listed on the Toronto Inventory Alternate in Canada and the Nasdaq Stockholm trade in Sweden underneath ticker image “ETX”. Etrion’s largest shareholder is the Lundin household, which owns roughly 36% of the Firm’s shares straight and thru numerous trusts.

For extra data, please go to the Firm’s web site at or contact:

Christian Lacueva – Chief Monetary Officer
Phone: +41 (22) 715 20 90

Observe: The capability of energy crops on this launch is described in approximate megawatts on a direct present (“DC”) foundation, additionally known as megawatt-peak (“MWp”).

This data is data that Etrion Company is obliged to make public pursuant to the EU Market Abuse
Regulation. The knowledge was submitted for publication at 13:05 p.m. CET on June 3, 2021.

Ahead-Wanting Info:
This press launch comprises sure “forward-looking data”. All statements, apart from statements of historic reality, that tackle actions, occasions or developments that the Firm believes, expects or anticipates will or might happen sooner or later (together with, with out limitation, statements regarding the Firm’s proposed sale of its Misawa photo voltaic challenge) represent forward-looking data. This forward-looking data displays the present expectations or beliefs of the Firm primarily based on data at the moment obtainable to the Firm in addition to sure assumptions together with, with out limitation, the flexibility of the Firm to finish the sale of the Misawa challenge. Ahead-looking data is topic to quite a few vital dangers and uncertainties and different elements that will trigger the precise outcomes of the Firm to vary materially from these mentioned within the forward-looking data, and even when such precise outcomes are realized or considerably realized, there may be no assurance that they’ll have the anticipated penalties to, or results on the Firm. Components that would trigger precise outcomes or occasions to vary materially from present expectations embrace, however usually are not restricted to, the danger that the Firm might not have the ability to full the sale of the Misawa challenge or the completion of such sale could also be delayed.

Any forward-looking data speaks solely as of the date on which it’s made and, besides as could also be required by relevant securities legal guidelines, the Firm disclaims any intent or obligation to replace any forward-looking data, whether or not on account of new data, future occasions or outcomes or in any other case. Though the Firm believes that the assumptions inherent within the forward-looking data are affordable, forward-looking data isn’t a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such data because of the inherent uncertainty therein.

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