2014-02-03 16:06:28 -
Western Tidal Holdings Ltd., a Wholly Owned Subsidiary of Tribute Resources Inc., Announces the Execution of an Investigative Use License
February 03, 2014 /FSC/ - Tribute Resources Inc. (TRB - TSX Venture)
Western Tidal Holdings Ltd. ("Western Tidal"), a tidal power marine energy project developer in British Columbia are pleased to announce the execution of an Investigative Use License Agreement, the first of what Western Tidal hope to be many collaborative efforts with the shishalh Nation as described below in their press release dated January 31, 2014 (inserted below). In addition to the shishalh Nation, Western Tidal has worked with and has gained the support for investigation permits of several other First Nation groups in and around the coastal waters
Western Tidal is the leading marine energy project developer operating in the coastal waters of British Columbia, Canada. Western Tidal has worked with several First Nation groups and has made applications to the Ministry of Forest, Land and Natural Resource Operations for investigative permits at fourteen project sites. Western Tidal is also in the process of identifying additional sites which it intends to review against its development criteria, and doing so in full collaboration with First Nations.
shishalh Nation Press Release as released dated January 31, 2014 :
shishalh Nation signs Investigative Use License Agreement with Western Tidal Holdings Ltd.
Sechelt, BC - shishalh Nation Chief Garry Feschuk and Council state, "This agreement is a prime example of how shishalh stewards its land. Through our Lands and Resources Decision-Making Policy, we are ensuring that our resources are protected and that development occurs in a sustainable manner. Western Tidal engaged with the Nation early with the goal of creating collaboration. We applaud them and expect all proponents to follow their example."
The agreement initiated the building of a constructive working relationship between Western Tidal and the shishalh Nation. Through the agreement due diligence will be conducted by the shishalh Nation and Western Tidal. The agreement allows the company to investigate the feasibility of a tidal project in Agamemnon Channel. The Nation and Western Tidal will jointly decide if the project will proceed to the development stage. The agreement also allows for Western Tidal to hold an investigative use licence for tidal power at Skookumchuck; however, any investigative work or development must be expressly approved by the shishalh Chief and Council.
Shishalh Council have championed the benefits of IPPs on behalf of the shishalh Nation for the past ten years and in doing so made green energy power sources a top priority for First Nations throughout BC, eclipsing forestry and fishing as major sources for financial revenue for Nations that are willing to co-venture.
In conclusion, Chief and Council would like to underscore the importance of working collaboratively. Shishalh Council stated, "This agreement is a step in the right direction for both parties. We will now work together, using shishalh principles for decision-making to ensure that we understand the impacts and to ensure that our resources are protected."
For further information contact Chief Garry Feschuk at 604-885.2273; firstname.lastname@example.org
Tribute Resources Inc. (TSX-V:TRB) ("Tribute"), a public company trading on the TSX Venture exchange. Western Tidal Holdings Ltd. was acquired by Tribute in August 2013. 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 developing and maintaining a long-term interest in renewable energy projects and in market-based priced underground natural gas storage assets 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 operational. 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 creates 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. For more information please visit www.tributeresources.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Western Tidal Holdings Ltd. Tribute Resources Inc.
Robert Savard Jennifer Lewis
President, Western Tidal Holdings Ltd. CFO, Tribute Resources Inc.
(250) 740-0870 (519) 657-7624
To view this press release as a PDF file, click onto the following link:
Source: Tribute Resources Inc. (TSX-V: TRB) www.tributeresources.com
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