TORONTO,
Oct. 22, 2012 /CNW/ - Cleanfield
Alternative Energy Inc. ("Cleanfield") (TSX VENTURE: AIR), is
pleased to announce that its shareholders granted it the authority
to initiate a proposed two (2) for one (1) consolidation of
Cleanfield's common shares (the "Share Consolidation"). The
shareholders of Cleanfield, who voted at the October 19, 2012 special meeting, voted greater
than 99% in favour of the Share Consolidation.
Subject to regulatory approval, the Share
Consolidation will transpire only if Cleanfield attracts new
financings and if it is in the interest of Cleanfield and its
shareholders to proceed with the consolidation of the common shares
in order to facilitate the new capital investment. For further
details please refer to Cleanfield's information circular filed on
www.sedar.com.
About Cleanfield Alternative Energy:
Cleanfield is an innovative technology company focused on the
research, development and distribution of renewable energy
solutions for the urban environment. The company owns industry
leading and proprietary inverter technologies, which it currently
sells through a complete solution - a 3 kW vertical axis wind
turbine. The company is also developing several advanced solar
photovoltaic technologies with strategic partners.
Forward Looking Statements: Certain
statements in this news release may be considered to be
forward-looking. These statements relate to future events or
Cleanfield's future results including revenues and reflect the
current assumptions and expectations of management. Unknown factors
may affect the events, performance, revenues and results of
operations described herein. Cleanfield undertakes no obligation,
and does not intend to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable laws.
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
SOURCE Cleanfield Alternative Energy Inc.