Tribute Resources Inc. (“Tribute”), is pleased to announce that its subsidiary, Spray Energy Limited Partnership, has purchased the wind turbine owned by 3285926 Nova Scotia Limited, located near Tiverton, Digby County, Nova Scotia.
The purchase price was $550,000 to be paid in milestone payments. The purchase includes the 0.9MW wind turbine which has a Power Purchase Agreement with Nova Scotia Power for renewable energy power. The asset purchase agreement was signed on October 31, 2016.
About Tribute Resources Inc.:
Tribute is a Canadian publicly traded energy company incorporated under the Business Corporations Act of the Province of Alberta on May 15, 1997. Tribute’s primary focus is on adding value to shareholders by investing in energy projects including tidal energy, market-based priced underground natural gas storage assets and renewable energy projects in Canada. Tribute’s objective is to build a company capable of delivering and sustaining long-term per share growth by developing energy projects that will generate stable long-term cash flow when fully developed. Tribute’s business plan is to build upon its current asset base to identify, permit, develop, and construct projects that meet its threshold return criteria. Tribute will create value by identifying project opportunities, providing the expertise to develop the projects and maintaining an interest in the completed assets to build long-term stable utility quality cash flow from a strong and diversified energy related asset base.