Power Clouds Inc. (OTC Pink: PWCL), a global renewable energy company, provided an update on the pending acquisition of three photovoltaic installations from Liquid Sun Srl, an Italian company. The three photovoltaic installations have a total power of 2.24MW (2,244.37 KW), and would more than double Power Clouds' current installed power base in Italy of 1.7MW at two solar PV parks.
The parties are in negotiations to extend the terms and closing date of the acquisition in order to allow both sides to complete the transaction. The terms of the transaction, which was announced on August 1, 2017, called for closing by October 15, 2017. The discussions are ongoing and at this time, there is no assurance of the timing or completion of the transaction. Power Clouds will continue to update shareholders as appropriate.
About Power Clouds Inc.
Power Clouds Inc. is a global renewable energy provider that creates value for investors by developing; owning and operating clean energy power plants in multiple countries where the combination of regulatory, economic and environment elements are maximized. PWCL operates solar parks that connect directly to national power grids rather than residential rooftops. The company currently has activities in Europe & Asia. This global focus means operations are not limited to any one geography or single commercial model or regulatory influence. For further information see www.PowerCloudsInc.com
Forward Looking Statement
This press release contains forward-looking statements. Words such as "expects," "intends,'' "believes,'' and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
CONTACT
Vincent Browne
CFO
Power Clouds Inc.
(212) 220-7434
investors@powercloudsinc.com
Stephanie Prince
Managing Director
PCG Advisory Group
(646) 762-4518
sprince@pcgadvisory.com
