Vancouver, British Columbia--(Newsfile Corp. - March 14, 2018) - Cliff Grandison, President of Alaska Hydro Corp. (TSXV: AKH) (the Company), reported the receipt and acceptance of the offer of an Investigative Licence for the Forrest Kerr Diversion Project.
The Investigative Licence will allow the Company to occupy Crown land for the investigation of and monitoring for the feasibility of construction of a weir and diversion channel to divert water from Forrest Kerr Creek to More Creek to provide increased flows to the Company's proposed 75 MW More Creek Hydroelectric Project. The Company's prefeasibility study of the diversion indicated that it would add approximately 100 GWh of additional electricity to that already projected from the More Creek Hydroelectric Project, for a total production of approximately 448 GWh annually. The additional cost of the Forrest Kerr Diversion to the More Creek Hydroelectric Project is estimated to be approximately $35 million. Additional revenue is estimated to be approximately $10 million annually. Other than the cost of the diversion, the More Creek Hydro Plant will need no major design change or reengineering to add capacity.
The Forrest Kerr Diversion is expected to increase the More Creek Hydroelectric Project operating capacity from 52% to 68%. This will have a substantial benefit to the rate of return on the invested capital, lower operating cost per MWh and lower unit cost of energy per MWh.
The Company will proceed with a revised and updated More Creek/Forrest Kerr prefeasibility study and commence the preparation of applications for Environmental Assessment Certificates from the Province of BC and the Government of Canada for the Forrest Kerr Diversion.
For further information, please contact:
Cliff Grandison, President
Certain statements contained in this release may constitute forward-looking information. These statements may relate to future events or future performance, including receipt of a water licence in respect of the proposed project, receipt of land tenure in respect of lands relating to the proposed project, completion of a preliminary economic assessment, environmental assessments, prefeasibility and feasibility studies and project financing, receipt of TSX Venture Exchange acceptance, receipt of a satisfactory outcome in consultations with First Nations, receipt of applicable permits, anticipated project development timelines and anticipated demand for hydro electricity. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Any forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward‑looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward‑looking information. The foregoing statements expressly qualify any forward‑looking information contained herein.
Neither the 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 release.
NOT FOR DISSEMINATION IN THE UNITED STATES