Cleanfield Alternative Energy Inc. Announces Financing
12 2월 2008 - 11:16PM
Marketwired
ANCASTER, ONTARIO (TSX VENTURE: AIR) is pleased to announce that
it has entered into a letter of engagement with Jacob & Company
Securities Inc. ("Jacob & Co.") by which Jacob & Co. will
act as agent for the placement of units (the "Units") for aggregate
gross proceeds of a minimum of $5,000,000 and a maximum of
$10,000,000. The Units will be comprised of one (1) common share
and one (1) common share purchase warrant (the "Warrants"). The
Warrants will be exercisable for a period of two (2) years from the
date of closing the placement. The Units and the exercise price of
the Warrants will be priced in the context of the market.
Pursuant to the terms of the engagement letter in connection
with the proposed private placement, Cleanfield will pay Jacob
& Co. a fee of 8% of the gross proceeds of the financing and
issue broker warrants equal to 8% of the aggregate number of Units
sold under the placement. In addition, Cleanfield will issue Jacob
& Co. an aggregate of 40,000 Units as payment for a corporate
finance fee. The financing and the payment of the fee are subject
to TSX Venture Exchange approval.
Proceeds of the financing will be used by Cleanfield for the
costs and working capital requirements associated with the
commercialization of the V3.5 Vertical Axis Wind Turbine.
About Cleanfield Alternative Energy
Cleanfield Alternative Energy is the parent company of
Cleanfield Energy(TM) and is committed to the development of
renewable energy products for both consumer and commercial
applications. Cleanfield's tailor-made VAWT can be mounted on a
tower or suitable rooftop, offering electricity independence and
security.
About Jacob & Company Securities Inc.
Jacob & Company Securities is an independent investment bank
with a leading underwriting and financial advisory business focused
in the renewable power and infrastructure sectors. In the previous
two years Jacob & Company principals have managed and
structured over 25 transactions in the renewable power sector and
have participated in renewable financings valued at more than $1
billion.
Contacts: Cleanfield Alternative Energy Inc. Tony Verrelli
President/CEO (905) 304-5223 Email: info@cleanfieldenergy.com
Website: www.cleanfieldenergy.com
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