Finavera Renewables hires Pinnacle Capital Markets for Investor Relations

VANCOUVER, Sept. 30 /CNW/ - Finavera Renewables Inc. ('Finavera Renewables' or the 'Company') (TSX-V: FVR) has retained Pinnacle Capital Markets Ltd. ("Pinnacle") to develop and provide investor relations services for the Company. Pinnacle has been engaged to refine and execute an investor relations strategy that will enhance and expand Finavera Renewables' exposure with the Canadian and international investment community. Pinnacle will assist Finavera in fostering productive, continuing dialogues with analysts, brokers, potential investors, current shareholders and other financial professionals.

The initial period of the agreement is for 3 months with an option to renew at terms mutually agreeable to each party. Finavera Renewables will compensate Pinnacle with a monthly retainer of $4,000 and issue 100,000 incentive stock options to be granted pursuant to the Company's stock option plan and the rules of the TSX Venture Exchange. The options will have an exercise price of $0.10 per share for a period of 1 year. The options will vest in four equal installments every three months. In the event the Company and Pinnacle elect to extend the agreement, the monthly compensation will increase to $5,000. The agreement is subject to the approval of the TSX Venture Exchange.

About Pinnacle

Pinnacle Capital Markets LTD. is a Toronto based advisory firm that provides a full range of services to publicly-listed companies operating primarily in the mining, oil and gas, technology and renewable energy sectors. They also assist private companies develop and define a capital markets strategy for future public listing. Their objective is to work closely with their clients to achieve key investor relations goals such as: assist in positioning their client in the context of the public markets, enhance visibility within the financial community, increase liquidity through enhanced retail and institutional awareness, attract and increase equity research coverage, and assist in identifying much needed growth capital. PCM believes that a successful investor relations program depends on a multifaceted approach, including an effective strategy, tactical execution, thoughtful advice, and ongoing communication.

Jason Bak, CEO

About Finavera Renewables Inc. (www.finavera.com)

Finavera Renewables' objective is to become a major renewable and green energy producer by developing and operating its assets in the wind sector. Finavera Renewables is developing wind energy projects in Canada and Ireland. In British Columbia, Canada, projects totaling 301 MW have been awarded Electricity Purchase Agreements under the Hydro Clean Power Call. In Ireland, the Company has signed a co-development agreement with Scottish and Southern Renewables for the 105MW Cloosh Valley Wind Project. Data collection and environmental studies have been continuing at a number of sites in both countries.

Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. The words "would", "will", "expected" and "estimated" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, litigation, legislative or other judicial, regulatory and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements.

"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 release."

For further information: Finavera Renewables, Myke Clark, SVP Business Development, Finavera Renewables, 604-288-9051, [email protected]; Media Contact, Mike Wilson, FD Element, 604-760-4758, [email protected]