After unsuccessful attempts to secure necessary capital,WAI Capital InvestmentsCorp. said July 14 that it has decided to wind down its operations.

The efforts to raise additional capital for the company andattract new projects were unproductive due to the existing debts within thecompany.

As a result of ongoing discussions with creditors, the boardof directors has resigned, effective immediately.

In addition, CEO Guy Duport and CFO and secretary MathieuCharette also resigned with immediate effect.