Latest news with #Sitka
Yahoo
01-08-2025
- Business
- Yahoo
Sitka Power Inc. Completes Acquisition of Synex Renewable Energy Corporation
Vancouver, British Columbia--(Newsfile Corp. - August 1, 2025) - Synex Renewable Energy Corporation (TSX: SXI) ("Synex" or the "Company") and Sitka Power Inc. ("Sitka") are pleased to announce the completion today of the acquisition of all of the common shares of Synex (the "Common Shares") by Sitka in an all-cash transaction pursuant to a plan of arrangement (the "Arrangement") under Part 9, Division 5 of the Business Corporations Act (British Columbia). Sitka acquired each Common Share for C$2.40, for total consideration of C$12,017,474.40. Mr. Trevor White, President and Chief Executive Officer of Sitka and President of Synex, commented: "We are happy to have achieved all approvals and consents to finalize this transaction, and we're appreciative to all of those that supported from both sides. This acquisition expands our operating asset base to British Columbia, and with it comes an impressive pipeline of development projects during a significant stage of growth and demand in the market." With the Arrangement now complete, the Common Shares will be delisted from the Toronto Stock Exchange in the coming days. The Company has submitted an application to cease to be a reporting issuer under applicable Canadian securities laws and to otherwise terminate the Company's public reporting requirements. In connection with the completion of the Arrangement, Tanya DeAngelis, Daniel J. Russell, Majed Masad, Richard McGivern and Danny Sgro resigned from the board of directors of the Company, each of Tanya DeAngelis, Daniel J. Russell, and Hari Rupawala ceased to be an officer of Synex and representatives of Sitka were appointed as directors and officers of Synex. Details regarding the Arrangement are set out in Synex's management information circular and proxy statement dated April 24, 2025, a copy of which can be found under Synex's profile on SEDAR+ at Additional Early Warning Report Information Upon completion of the Arrangement, Sitka holds 5,007,281 Common Shares, representing 100% of the issued and outstanding Common Shares. Immediately prior to the completion of the Arrangement, Sitka did not hold, directly or indirectly, any Common Shares. An early warning report containing additional information will be filed by Sitka in accordance with applicable securities laws and will be available on SEDAR+ at or may be obtained directly from Sitka upon request to Cory St. Croix at (866) 467-4852. The head office address of Sitka is Suite 1500 - 639 5 Avenue SW, Calgary, Alberta T2P 0M9. About Synex Renewable Energy Corporation Synex is a Vancouver, British Columbia based company engaged in the development, acquisition, ownership, and operation of renewable energy projects in Canada. It has ownership interests in 11 MW of operating hydro projects in British Columbia and owns a Vancouver Island grid connection and utility carrying on business as Kyuquot Power Ltd. The Company also has 9.4 MW of construction ready run-of-river projects, applications, and land tenures on another 24 potential hydroelectric sites totaling over 150 MW of capacity, and approximately 16 wind development sites that could provide up to 4,700 MW of clean power in British Columbia. For further information, visit About Sitka Power Inc. Sitka is a small scale Canadian renewable energy developer and independent power producer, headquartered in Calgary, Alberta, and active in British Columbia, Alberta, Saskatchewan, and Ontario. Sitka is a portfolio company of Long Life Capital Management – Canadian Infrastructure Fund I LP, which, via its general partner Long Life Capital Management – Canadian Infrastructure Fund I GP, is managed by Long Life Capital Holdings Inc., a private equity manager. For further information, visit Forward-Looking Statements This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Such forward-looking information or statements ("FLS") are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such FLS may be identified by words such as "proposed", "expects", "intends", "may", "will", and similar expressions. FLS contained or referred to in this press release includes, but is not limited to, the results of the completion of the Arrangement and the delisting of the Common Shares. FLS is based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such FLS is reasonable, undue reliance should not be placed on FLS because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such FLS include, without limitation, the following factors, many of which are beyond the Company's control and the effects of which can be difficult to predict: (a) the possibility of adverse reactions or changes in business relationships resulting from the Arrangement; (b) credit, market, currency, operational, liquidity and funding risks generally and relating specifically to the Arrangement, including changes in economic conditions, interest rates or tax rates; (c) changes and trends in the Company's industry and the global economy; and (d) the identified risk factors included in the Company's public disclosure, including the annual information form dated September 27, 2024, which is available under the Company's profile on SEDAR+ at If any of these risks or uncertainties materialize, or if the assumptions underlying the FLS prove incorrect, actual results or future events might vary materially from those anticipated in the FLS. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in FLS, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such FLS. The FLS in this press release reflect the current expectations, assumptions, judgements and/or beliefs of the Company based on information currently available to the Company, and are subject to change without notice. Any FLS speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any FLS, whether as a result of new information, future events or results or otherwise, except as required under applicable securities laws. The FLS contained in this press release are expressly qualified by this cautionary statement. For more information on the Company, please review the Company's continuous disclosure filings that are available under the Company's profile at No securities regulatory authority has either approved or disapproved of the contents of this news release. The TSX accepts no responsibility for the adequacy or accuracy of this release. For more information, please contact: Trevor WhitePresident & CEO, Sitka Power Synex Renewable Energy CorporationSuite 1050 - 639 5 Ave SW, Calgary, Alberta T2P 0M9 Phone (403) 999-8781twhite@ To view the source version of this press release, please visit Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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Scotsman
24-07-2025
- General
- Scotsman
Funding push after community set to take Scottish Borders forestry project to court
The Scottish Government's forestry agency has been accused of acting unlawfully. Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... A community taking a Scottish Borders forestry plantation to court is campaigning for funding to help them fight the legal battle. Save Todrig is hoping to raise £30,000 to cover legal fees to help them block a predominantly Sitka spruce forest stretching more than 500 hectares at Todrig Farm, about seven miles north of Kelso. Advertisement Hide Ad Advertisement Hide Ad Campaigners said they are concerned about the impact the plantation will have on the current moorland habitat and surrounding communities. The application for the woodland scheme at Todrig was lodged by Gresham House Forest Growth and Sustainability Fund LP. | Simon Butterworth A petition was lodged claiming that Scottish Forestry, the public agency responsible for regulating forestry and distributing grants, acted unlawfully by screening out an Environment Impact Assessment (EIA) in December last year and claiming there will be no significant environmental impacts before a public consultation was done. The applicant, Gresham House Forest Growth and Sustainability Fund LP, of Gresham House Ltd, applied to the agency for the EIA decision before applying for grant funding under the Forestry Grant Scheme, which would have triggered a public consultation. Campaigners accused Scottish Forestry of 'acting in secret' by making a decision on the EIA before the consultation. It meant NatureScot and RSPB among other groups who put their arguments in, which included comments claiming bird surveys were inadequate, were seen months after a decision on environment impact had already been made. Advertisement Hide Ad Advertisement Hide Ad David Lintott, of Restore Nature Ltd, the organisation behind lodging the petition, said: 'I think it is a particularly egregious case because they [Scottish Forestry] determined there will be no harms before the RSPB and organisations like Butterfly Conservation were able to put their points across, so their arguments weren't taken into account. David Lintott, of Restore Nature, which lodged a successful petition calling for a judicial review of a forestry plantation at Todrig in the Scottish Borders | Katharine Hay 'That's really poor when your dealing with such a huge area and something that is going to cause transformative change.' The planned Todrig forest would link to another proposed 700-hectare predominantly Sitka forest at Whitslaid. It means the area will see some 11 square kilometres of conifer plantations across the moorland habitat, campaigners said. The proposed schemes, which, together, would be larger than Selkirk and Hawick combined, fall into a pilot map created by Scottish Forestry for the Upper Ale area. It shows an area the agency deems suitable for planting either large scale or medium scale spruce plantations. Advertisement Hide Ad Advertisement Hide Ad A pilot study carried out by Scottish Forestry for a land capacity map. The outer red line is the boundary of the pilot study and blue denotes existing plantations. Todrig and Whitslaid are marked bottom right. | Scottish Forestry Save Todrig said, with the exception of narrow areas along the main river valleys and isolated hill tops, 'pretty much everywhere is eligible for predominantly conifer plantations'. The group said, in effect, the whole area could be covered in conifers, and if extrapolated across the Scottish Borders, pretty much everywhere outside SSSIs and other protected areas. Campaigners said blanketing the area in conifer plantations will lead to 'the permanent loss of a unique rolling moorland landscape in the Scottish Borders,' which provides a natural habitat for wildlife including the red-listed black grouse and northern brown argus, which is classified as 'vulnerable' on the butterfly red list. Butterfly Conservation was recently awarded £730,000 in public funding to enhance conservation efforts for the rare butterfly, which is found in limited areas of the UK, one of those being the Scottish Borders. According to the petition, research on brown argus carried out by the charity found the 'prime threat was found to be the increasing risk of afforestation being driven by generous woodland grant incentives.' Advertisement Hide Ad Advertisement Hide Ad Northern brown argus butterfly | Butterfly Conservation Trust The upcoming court case comes after a successful judicial review of a plantation at Stobo Hope, also in the Scottish Borders, forced Scottish Forestry to suspend planting and a £2m grant contract they had awarded to the applicant: Forestry Carbon Sequestration Fund, which is managed by True North Real Asset Partners. The court case was triggered by warnings from Stobo Hope Action Group that hundreds of hectares of the site had been sprayed with herbicides prior to the forestry application being submitted. Scottish Forestry halted forestry work at the Stobo Hope woodland creation scheme in the Scottish Borders in September 2024. The decision came after new information about herbicide spraying at the site. | Supplied In Scottish Forestry correspondence, obtained by Freedom of Information requests, an agency staff member described the site looking like it had been 'napalmed' following the spraying. Mr Lintott, who was also involved in the Stobo Hope case, said: 'You would think they [Scottish Forestry] would be more careful after seeing that. But the fact they haven't been in the Todrig case has been disappointing and particularly concerning.' Advertisement Hide Ad Advertisement Hide Ad Community groups have been set up in response to the proposed forestry schemes, including the Upper Ale Water Conservation Group who met with Scottish Conservatives MP John Lamont and MSP Rachael Hamilton to discuss their concerns. MSP Racheal Hamilton meeting with members of Upper Ale Water Conservation Group | Upper Ale Water Conservation Group Speaking during a visit on Wednesday, Ms Hamilton said: 'The local community are rightly concerned by these forestry applications and the lack of scrutiny around the consultation process. 'There needs to be more accountability of Scottish Forestry to ensure that swathes of forestry are not forced upon communities against their interest. 'That's why I brought forward an amendment to the Land Reform Bill for the Scottish Government to implement an Ethical Framework for Natural Capital Investment that ensures local community have a voice, but it was shamefully voted down at stage two.' Advertisement Hide Ad Advertisement Hide Ad Scottish Green Party candidate for Dumfriesshire, Clydesdale and Tweeddale Dominic Ashmole backed the Save Todrig petition saying it was 'a fine public service.' Scottish Green Party candidate for Dumfriesshire, Clydesdale and Tweeddale Dominic Ashmole Mr Ashmole, who was recently selected by the Greens as a South Scotland regional candidate for the upcoming Scottish Parliament election, said: 'If successful, the case could set a precedent ensuring routine and substantive EIA of proposed forestry schemes, which could steer us to a place where we have locally-led, nature-friendly, continuous cover forestry that provides a whole host of co-benefits. 'At the moment, it seems that a scary big climate target is being wielded very much as a blunt instrument, perhaps with pressured civil servants reaching for 'big corporate' solutions rather than funding communities and smaller players to create a future closer to what locals and the wider public actually want.' Gresham House insisted it adheres to regulatory standards and industry best practice across all its projects. Advertisement Hide Ad Advertisement Hide Ad A spokesperson for the company said: "Community engagement is really important. 'For the Todrig proposal, we've undertaken a formal public consultation and invited feedback from statutory bodies including SEPA, NatureScot, and RSPB Scotland. "In response to early input, the current design includes a commitment to retain approximately 40 per cent of the site as open ground, primarily to support biodiversity and habitat creation. Once operational, all planting, felling, and management plans will be made publicly available - and as with any forestry project, we actively look for ways to deliver wider community benefits through improved public access, educational opportunities, and support for local initiatives.'
Irish Independent
19-07-2025
- General
- Irish Independent
99-hectare Wicklow property granted clearfell and thinning forestry licence
The approved 10-year licence received by Euroforest Timber Ireland Ltd relates to a property in the townland of Ballyshane, 5km from Ballinaclash, which was planted in 1988, 1989, 1991 and 1997. The licence covers the clear-felling and thinning of Japanese larch and Sitka spruce in a schedule of thinning in 2026 and clear-felling in 2025, 2027, 2030, 2033 and 2035, with the area to be clear-felled replanted with Sitka spruce. There is an aquatic zone bounding the south of the site in the neighbouring forest, to which a 10m exclusion zone will be applied. The site is within the acid-sensitive and fishery-sensitive areas. Harvesting operations carried out on site will include the selection of suitable machinery which will minimise ground disturbance and compaction, timing of operations to ensure the site will not be worked in adverse weather conditions, with broadleaf veteran trees to be retained where windfirm and safe to do so.
Irish Independent
10-07-2025
- Business
- Irish Independent
35-acre Wicklow forestry holding sells for in excess of guide before auction
Wicklow People A c. 35.6-acre forestry holding in south Wicklow that had been guided at €220,000 sold for in excess of that price before it went to auction. Located in Rosnastraw, 4km from Tinahely, the parcel of forestry land features extensive road frontage onto the R748, the property is currently growing a crop of mature timber, comprising mainly Sitka spruce and Scots pine and a small quantity of oak, with the Scots pine planted in 2000 and the remainder in 1994. The sale of the property was handled by Quinn Property managing director David Quinn, who described 'solid interest' in the property, adding that most interest was local, but there was 'also some interest from a number of parties based in Dublin and north Wicklow'. When asked about the ultimate sale price, Mr Quinn did not give an exact price but said that it was 'in excess of the guide'.
The Herald Scotland
09-07-2025
- Business
- The Herald Scotland
Scottish forest with pond and cabin option put up for sale
Landfor Chartered Land and Forestry Agency said that 'subject to consent, this scenic setting presents an excellent opportunity to erect a hut or cabin, providing a peaceful retreat within the woodland' in South Lanarkshire. The forest is in a 'prime location'. (Image: Landfor) Drumsmuir Wood, near Carluke, is described as a 'well-located and managed second rotation conifer woodland, featuring an attractive age profile and high amenity value'. The agent said: 'Following felling of the first rotation, the property now comprises a high proportion of improved Sitka spruce, alongside small parcels of Lodgepole pine and Hybrid larch, planted in various stages from 2006 onwards, with the most recent planting taking place in spring 2025. READ MORE: 'Located just 3.5 miles southeast of the small town of Carluke, Drumsmuir Wood enjoys excellent transport links by road, ensuring easy accessibility across Scotland. 'Drumsmuir's Wood enjoys a prime location in southern Scotland, close to well-established timber markets. Combined with its excellent crop quality and strong amenity appeal, the woodland presents a highly attractive investment opportunity.' The forest is marketed at offers over £425,000.
