TORONTO, Nov. 29, 2023 (GLOBE NEWSWIRE) -- Jade Power Trust (“Jade Power” or the “Trust”) (TSXV: JPWR.H) is pleased to announce that the final amount of €3,000,000 held in escrow pursuant to the closing of the Trust’s sale of all of its renewable energy operating assets (the “Sale Transaction”) to Enery Power Holding GmbH (“Enery”) and an affiliate thereof (the “Purchaser”) on November 22, 2022 has been released from escrow to the Trust.
As a result of such release, the Trust announces that it will be paying an aggregate cash distribution of approximately $4,466,400 to holders of the Trust’s contingent value rights (each, a “CVR”), amounting to approximately $0.2007 per CVR, on or about December 8, 2023 to holders of record as of the close of business on December 6, 2023 in accordance with the terms of its CVR indenture dated December 12, 2022 entered into between the Trust and TSX Trust Company.