Cleanfield Alternative Energy Inc. Announces Convertible Debenture Financing

Cleanfield Alternative Energy Inc. ("Cleanfield" or the "Corporation") (TSX
VENTURE:AIR) announces that it has entered into an agreement to issue an
aggregate of $315,000 principal amount of 12% secured convertible debentures
(the "Debentures") to three non-arm's length parties, who are officers and
directors of the Corporation. The Debentures will have a term of 24 months, will
bear interest at a rate of 12% per annum calculated annually and are payable
quarterly in arrears and may be prepaid in whole or in part on at least 10
business days notice without penalty or bonus. The Debentures will be secured by
way of a general security interest over the intellectual property of Cleanfield
and its wholly-owned subsidiary, Cleanfield Energy Corp. The principal amount
and interest on the Debentures will be convertible, at the option of the holder,
into units of Cleanfield ("Units") at a price of $0.85 per Unit. Each Unit will
be comprised of one common share of Cleanfield (a "Common Share") and one whole
common share purchase warrant (a "Warrant"). Each Warrant will entitle the
holder to acquire one Common Share (a "Warrant Share") at a price of $0.85 per
Warrant Share at any time prior to 24 months from the completion of the
Offering. The issuance of the Debentures is conditional upon all necessary
regulatory and stock exchange approvals.


FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release constitute forward-looking
statements. The use of any of the words "anticipate", "continue", "estimate",
"expect", "may", "will", "project", "should", "believe" and "confident" and
similar expressions are intended to identify forwardlooking statements. The
Corporation believes that the expectations reflected in these forwardlooking
statements are reasonable but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements included in, or
incorporated by reference into, this press release should not be unduly relied
upon. These statements speak only as of the date of this press release. The
Corporation undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.


About Cleanfield Alternative Energy Inc.

Cleanfield Alternative Energy Inc. is the parent company of Cleanfield Energy
Corp. 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.

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