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Jade Power Announces Final Escrow Release and CVR Distribution and Filing of Q3 2023 Interim Financial Statements

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. The CVRs were issued by the Trust on December 12, 2022 in connection with the closing of the Sale Transaction. Prior to such distribution, the escrow amount was converted into Canadian Dollars by the escrow agent at a rate of CAD/EUR $1.4888:€1. As of the date of this press release, there are 22,252,912 CVRs issued and outstanding.

Holders of CVRs may also be entitled to a final CVR distribution comprised of any amounts remaining from the cash reserve set aside by the board of directors of Jade Power Administrator Inc. from the net proceeds of the Sale Transaction to fund the Trust’s ongoing overhead and operational expenses and contingent liabilities. There can be no assurance as to the quantum or timing of any such final CVR distribution.

The terms of the CVRs are set out in the indenture entered into between the Trust and TSX Trust Company dated December 12, 2022, which is available on Jade Power’s SEDAR + profile at

Q3 2023 Interim Financial Statements and MD&A

The Trust also announces the filing of its Q3 2023 interim financial statements and related management discussion and analysis for the three and nine month periods ended September 30, 2023 which are available on Jade Power's SEDAR + profile at

For further information, please contact:
David Barclay
Chief Executive Officer
+1 954-895-7217

About Jade Power

The Trust, through its direct and indirect subsidiaries in Canada, the Netherlands and Romania, was formed to acquire interests in renewable energy assets in Romania, other countries in Europe and abroad that can provide stable cash flow to the Trust and a suitable risk-adjusted return on investment. All material information about the Trust may be found under Jade Power's issuer profile at

Forward-Looking Statements

Statements in this press release contain forward-looking information. Such forward-looking information may be identified by words such as “anticipates”, “plans”, “proposes”, “estimates”, “intends”, “expects”, “believes”, “may” and “will”. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the Trust’s control. Such risks and uncertainties include but are not limited to: risks related to the Trust’s strategy going forward; foreign exchange risk; and risks relating to the Trust’s ongoing overhead costs and the quantum of any future cash distributions to CVR holders. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Readers are cautioned that the foregoing list of factors is not exhaustive.

Details of additional risk factors relating to the Trust and its business, generally, are discussed under the heading “Business Risks and Uncertainties” in the Trust's annual Management's Discussion & Analysis for the year ended December 31, 2022, a copy of which is available on Jade Power's SEDAR + profile at These statements speak only as of the date of this press release. Except as otherwise required by applicable securities statutes or regulation, Jade Power expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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