Cleanfield Alternative Energy Closes Series A Convertible Debenture Private Placement
21 5월 2008 - 9:38PM
Marketwired
ANCASTER, ONTARIO (TSX VENTURE: AIR) is pleased to announce that
it has completed a previously announced private placement of Series
A 12% secured convertible debentures (the "Series A Debentures").
An aggregate of $250,000 principal amount of the Series A
Debentures were issued to three non-arm's length parties, who are
officers and directors of the Corporation. The Series A Debentures
have a term of 24 months, bear interest at a rate of 12% per annum
calculated quarterly in arrears and payable on maturity and may be
prepaid in whole or in part on at least 10 business days notice
without penalty or bonus. The Series A Debentures are secured by
way of a guarantee provided by Cleanfield's wholly-owned
subsidiary, Cleanfield Energy Corp., and a security granted by
Cleanfield Energy Corp. over its intellectual property assets. The
principal amount on the Series A Debentures is convertible, at the
option of the holder, into units of Cleanfield ("Units") at a price
of $0.86 per Unit. Each Unit will be comprised of one common share
of Cleanfield and one common share purchase warrant (a "Warrant").
Each Warrant will entitle the holder to acquire one additional
common share at a price of $0.86 per share at any time prior to May
20, 2010.
The Series A Debentures, the common shares and Warrants issuable
upon the conversion of the Series A Debentures and the common
shares issuable upon the exercise of the Warrants are all subject
to a four month hold period expiring September 21, 2008.
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.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts: Cleanfield Alternative Energy Inc. Tony Verrelli
President/CEO (905) 304-5223 Email: info@cleanfieldenergy.com
Website: www.cleanfieldenergy.com
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