SolarBank Corporation (the ?Company? or ?SolarBank?) announced that it has closed its acquisition of Solar Flow-Through Funds Ltd. (?SFF? or ?Solar Flow-Through?) valued at up to $45 million which includes SFF?s over 70 operating solar sites located in Ontario and recurring operating revenues which were $9.2 million in revenue for SFF calendar year 2023 and $9.4 million in revenue for SFF calendar year 2022.
In connection with the closing of the Transaction, Mr. Matthew Wayrynen, the current CEO of SFF, has been appointed to the Board of Directors of the Company and Mr. Olen Aasen has resigned as a board member but remains as General Counsel to the Company.
