AAER announces the completion of a $7,500,070 offering

/NOT FOR DISTRIBUTION TO THE U.S. NEWS WIRE SERVICES OR DISSEMINATION IN
    THE UNITED STATES/MONTREAL, May 22 /CNW/ - AAER Inc. (TSX-V : AAE) ("AAER" or the
"Corporation"), Canada's only original equipment manufacturer of wind turbines
of 1 megawatt ("MW") and more, is pleased to announce the closing of the
recently announced public offering for a total gross proceeds of $7,500,070
(the "Offering"), being the maximum offering provided for in the short form
prospectus dated May 14, 2009. AAER also announces the issuance of additional
units having a total value of $1,508,002.65, in payment of products and
services received by the Corporation, to 15 suppliers and other business
partners of AAER (the "Shares-for-Debt Offering").
    32,609,000 units of AAER (the "Units") have been issued as part of the
Offering and 6,556,533 Units have been issued as part of the Shares-for-Debt
Offering for a total of 39,165,533 Units.
    "We are very pleased with the positive feedback we had in respect of our
recent public offering from both the investors and our suppliers and business
partners. The strong demand for the Offering allowed us to significantly
increase its size" said Dave Gagnon, Chief Executive Officer of AAER. "The
amount raised will allow us to pursue the implementation of our business
strategy in North America and to continue to serve our ever-growing customer
base."
    Each Unit, issued at a price of $0.23 per Unit, consists of one common
share in the share capital of AAER (each, a "Common Share") and one common
share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder
thereof to purchase one additional Common Share upon payment of the exercise
price of $0.27 per Warrant until 5:00 p.m. (Eastern Time) on May 23, 2011. The
Warrants are also subject to an accelerated expiry, under certain
circumstances.
    The Offering was conducted, on a best efforts basis, by a syndicate of
agents led by Canaccord Adams and including Industrial Alliance Securities
Inc. (the "Agents"). AAER granted the Agents a total of 2,608,720 broker
warrants, each exercisable to acquire one Common Share at a price of $0.23 per
share until 5:00 p.m. (Eastern Time) on May 23, 2011.
    The net proceeds of the Offering will be used by the Corporation for the
purchase of necessary inventory and components to assemble wind turbines and
for general corporate and working capital purposes. Furthermore, a portion of
the net proceeds was used to reimburse, as of this day, the principal amount
and the interest accrued on the convertible debentures issued on April 15,
2009, representing a total amount of $577,651.92, the whole pursuant to the
terms of the debentures.

    This news release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities, in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of such jurisdiction. The securities have not been and will not be
registered under the United States Securities Act of 1933, as amended, or any
state securities laws and may not be offered or sold within the United States
unless an exemption from such registration is available.About AAER Inc.
    ---------------AAER is a wind turbine manufacturer located in Bromont, Quebec that
manufactures and maintains high capacity 1 MW or more wind turbines
principally for the North American market. Its strategy is to progressively
build its product's components to provide a high level of reliability and
competitive pricing to its customers. AAER uses a portfolio of proven European
technologies to ensure the performance of its turbines in various wind
conditions and terrains. Its stock is listed on the TSX Venture Exchange
(TSX-V: AAE). Additional information is available on the Corporation's website
at www.aaer.ca.

    Forward-Looking Statements

    This news release contains certain forward-looking statements or forward
looking-information. These forward looking statements are subject to a variety
of risks and uncertainties beyond the Corporation's ability to control or
predict which could cause actual events or results to differ materially from
those anticipated in such forward looking statements. Such risks and
uncertainties are disclosed under the heading "Risk Factors" in the
Corporation's Preliminary Prospectus dated May 14, 2009 and Annual Information
Form for the year ended December 31, 2008 and dated March 26, 2009. Further,
forward-looking information is in addition based on various assumptions,
including, without limitation, assumptions about: (i) general business and
economic conditions; (ii) selection of the Corporation's client bids in
different requests for proposals; (iii) the availability of financing on
reasonable terms; (iv) the availability of key components for the assembly of
wind turbines, (v) the costs of raw materials and parts; (vi) the
Corporation's ability to attract and retain skilled staff; (vii) market
competition; (viii) the technology offered by the Corporation's competitors;
(ix) the Corporation's ability to meet contractual obligations and delivery
dates; and (*) the Corporation's ongoing relations with employees and with
clients. Should one or more of these risks and uncertainties materialize, or
should the underlying assumption prove incorrect or different, actual results
may vary materially from those described in the forward-looking statements.
All forward looking statements speak only as of the date of this news release.
Accordingly, readers should not place undue reliance on forward-looking
statements.NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
    THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.%SEDAR: 00019641EF



For further information: AAER Inc., Dave Gagnon, President, Telephone:
(450) 534-5155, www.aaer.ca; The Equicom Group Inc., Alice Dunning, MBA, CFA,
Telephone: (416) 815-0700 ext. 255, adunning@equicomgroup.com