September 2018 – Tiucanada

Kyiv, Ukraine – TIU Canada has begun construction of a new solar plant near Kalynivka village, in the Mykolaiv region. The new project is called Vita Solar, with a planned peak capacity of 13,5MW, covering an area of 20.2 hectares. The solar panels are produced by Longi Solar, and the inverters are produced by SMA.

Mykolaiv region has one of the best locations for solar radiation in Ukraine. The measurements from Kalynivka show that the levels of solar radiation are at 1551 kW/m2. This plant will help to reduce carbon dioxide emissions by 18,212 tons per year.

Valentyna Beliakova, Country Director of TIU Canada in Ukraine said: “We have carefully selected the new site for this station, technically and logistically it is one of the best locations that are available to us”.

Michael Yurkovich, President of Refraction Asset Management, the holding company for TIU Canada said: “Following the completion of our first project in Nikopol, this is a logical next step. This station will uphold the high standards that we set for everything that we work with – starting from the materials and ending with our EPC contractor, Helios Strategia.”The plant will be commissioned later this year and will begin the generation no later than January 2019.

TIU Canada started its operations in Ukraine in June 2017, when the construction of the Nikopol solar plant begun. TIU Canada is owned by Refraction Asset Management, out of Calgary, Alberta.

Michael Yurkovich, President of Refraction Asset Management, the holding company for TIU Canada said: “Following the completion of our first project in Nikopol, this is a logical next step. This station will uphold our high standards that we set for everything that we work with – starting from the materials and ending with our EPC contractor, Helios Strategia.”The plant will be commissioned later this year and will begin the generation no later than January 2019.

TIU Canada started its operations in Ukraine in June 2017, when the construction of the Nikopol solar plant begun. TIU Canada is owned by Refraction Asset Management, out of Calgary, Alberta.

LLOYDMINSTER, AB (September 11, 2018): The cities of Lloydminster in the province of Alberta, Canada, and Nikopol in the Dnipropetrovsk Oblast of Ukraine yesterday announced a historic sister-city agreement. Mayor Gerald Aalbers signed on behalf of Lloydminster and Mayor Andriy Fisak will be signing on behalf of Nikopol.

This agreement is the first major announcement of non-military cooperation between Canada and Ukraine in 35 years. It recognizes the long history and close relationship between Western Canada and Ukraine and will serve as the starting point for a renewal of goodwill as both cities invest in each other, through increased trade, commerce, education, athletics, and cultural exchanges.

Mayor of Lloydminster Gerald Aalbers: “I am pleased to announce that the City of Lloydminster will be partnering with Nikopol as sister cities. Council approved a motion at the July 16, 2018 council meeting for the sister city agreement. I look forward with great anticipation to building this relationship. I am eager to welcome a delegation from Nikopol in the coming months. Ukrainian heritage runs strong in Alberta, and especially in Lloydminster, and I’m honored to witness this historic sister city agreement.”

“Canada and Ukraine enjoy close bilateral relations and the historic ties of friendship between our two countries were forged through generations of Ukrainian migration to Canada”, said Mayor Fisak. “Today, these historic bonds are reinforced by shared values and interests to produce a mature, balanced, and mutually beneficial partnership for the 21st Century.” Mayor Fisak said: “I trust a Sister City Agreement between Lloydminster, Canada, and Nikopol, Ukraine, will create an environment conducive to the development of both of our communities and will offer the possibility to strengthen our social and cultural relations – as well as improve the welfare of the residents of our two cities.”

Today’s announcement has been widely celebrated by Ukrainian-Canadians. Olesia Luciw-Andryjowycz, President of Ukrainian Canadian Congress – Alberta Provincial Council said, “We are thrilled with the new twinning of the Ukrainian city of Nikopol with our own Alberta city of Lloydminster. Being the first Alberta city twinned with a city in Ukraine, this will be a great opportunity to develop trade and commerce between these two municipalities. UCC-APC looks forward to working cooperatively in a variety of sectors including education, arts, and culture, economic cooperation and governance.”

A key motivation for this agreement is the historic undertaking in Nikopol by Calgary-based investment firm Refraction Asset Management through its subsidiary, TIU Canada, a renewable energy company. On January 26, 2018, TIU Canada opened a 10.5-megawatt solar power plant in Nikopol with a total investment of €10.5 million (approx. CAD$16.1 million). This investment is the first investment from Canada under the 2017 Canada-Ukraine Free Trade Agreement.

Refraction Asset Management’s President, Michael Yurkovich said, “We at Refraction Asset Management are pleased to play a role in bringing together Lloydminster and Nikopol. This is the first sister city agreement in Alberta with a Ukraine city, and it’s an indicator of both the strong ties between Canada and Ukraine, as well as the success of the Canada-Ukraine Free Trade Agreement.”

The text of the agreement is attached separately to this release.

For more information, please contact:

(inquiries in Ukrainian should be sent via email only)

Shayne Saskiw

Principal, Alberta Counsel

780-652-1311

[email protected]

For Immediate Release

September 10, 2018

In a historic undertaking, a North American company is quickly becoming a global innovator regarding economic strategies. While others avoid conflict areas like Ukraine, TIU CANADA is investing millions in the citizens of that region, by providing a long-term vision for economic stability through jobs and renewable energy resources.

On January 26, 2018, TIU Canada, a subsidiary of Refraction Asset Management, opened a 10.5-megawatt solar power plant in Nikopol with a total investment of 10.5 million euros (approx. $13.3 million USD). TIU Canada is the first Canadian company to partner with Ukraine under the newly enacted Canada-Ukraine Free Trade Agreement.

Hani Tabsh, Chief Operations Officer of Refraction Asset Management and Director of TIU Canada, said, “We feel there is a misunderstanding of risk profile in Ukraine in general. There is a stigma of putting capital at risk in conflict zones. We look at Ukraine as a place with a lot of economic opportunities and qualified, intelligent and strong-willed people that are focused on energy independence. Energy independence is something that the country desperately needs. The easiest way to get that energy independence is to develop the resources that exist within Ukraine. We are looking forward to growing our footprint over time as we do more and more business in this region.”

TIU Canada’s investment is generating Climate Change in Ukraine- environmentally, politically, and economically. The Nikopol solar plant has created 25 local jobs and brought more than 2 million hryvnias ($73,000 USD) to the local city budget. The energy from the solar plant eliminates 12,738 tons of CO2 annually, a cleaner option than coal and a less dangerous option than nuclear energy, given Ukraine’s legacy of Chernobyl. Reliable renewable energy resources also mean less dependence on Russian energy.

Due to the success of TIU Canada’s investment in Ukraine, the cities of Lloydminster in the province of Alberta, Canada, and Nikopol in the Dnipropetrovsk Oblast of Ukraine announced a historic sister-city agreement on September 10, 2018. This is the first major announcement of non-military cooperation between Canada and Ukraine in 35 years. Mayor Gerald Aalbers (Lloydminster) and Mayor Andriy Fisak (Nikopol) will ceremoniously sign the Sister City Agreement in September when Mayor Fisak visits Lloydminster.

“Canada and Ukraine enjoy close bilateral relations and the historic ties of friendship between our two countries were forged through generations of Ukrainian migration to Canada”, said Mayor Fisak of Nikopol. “Today, these historic bonds are reinforced by shared values and interests to produce mature, balanced and mutually beneficial partnership for the 21st Century.” Mayor Fisak also stated, “I trust a Sister City Agreement between Lloydminster, Canada, and Nikopol, Ukraine, will create an environment conducive to the development of both of our communities and will offer the possibility to strengthen our social and cultural relations, as well as improve the welfare of the residents of our two cities.

For more information, please contact:

Alberta Counsel

Shayne Saskiw, Principal

780-652-1311

[email protected]

City of Lloydminster

Mike Specht

780-875-6184 ext. 2309

[email protected]

City of Nikopol

Serhiy Doroshenko

380-50-937-0032