Canoe Reach Energy Inc. ("CRE"), a privately held B.C. based company focused on developing geothermal projects throughout B.C.'s Valemount (Robson Valley) Region, is launching a $1.8 million capital raise to develop, market and operate a GeoHeat Park.
Geothermal heat and electricity production is an industry that has been used throughout the world for more than a century, and yet has not been developed in Canada despite its high-quality resources. With rising carbon taxes affecting the price of food, electricity, heating and more, the development of geothermal resources can offer an alternative energy that is locally produced and is renewable.
Director Alison Thompson states, "We are raising capital for drilling and initial development of the reservoir. Accredited investors can participate in an alternate energy investment that is PIMBY (Please In My Backyard). This is possibly the first energy project, and almost certainly the only current energy project in the province that does not have any public discontent associated with it."
Borealis GeoPower Inc., a privately held corporation based in Calgary, AB and established in 2007 has undertaken geothermal energy exploration activities in the Robson Valley spanning back to 2010. In 2016 it formed its subsidiary, CRE, to commercialize renewable heat projects, begin operations and start earning revenue from long-term renewable heat contracts.
CRE is qualified as an Eligible Business Corporation ("EBC") under the BC Small Business Venture Capital Act ("SBVCA") providing individual tax payers or corporations the opportunity to receive a 30% tax credit on their 2016 tax return for investments up to $200,000, resulting in a net investment cost of $140,000.
This investment opportunity is open to accredited investors only.
Borealis GeoPower Inc | http://www.borealisgeopower.com