TORONTO, July 20, 2012 /CNW/ - Cleanfield Alternative Energy Inc. ("Cleanfield") (TSX VENTURE: AIR) announces
that, subject to TSX Venture Exchange ("Exchange") approval, it will
issue 1,685,000 common shares at $0.05 per share to satisfy certain debt owing to two
arm's length creditors of its subsidiary, Cleanfield Energy Corp. The
common shares will be issued when the Exchange's approval is received.
All common shares issued will be subject to a four-month Exchange hold
period when issued.
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 3.5 kW vertical axis wind turbine. The company is also
developing several advanced solar photovoltaic technologies with
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.
For further information:
Go to www.cleanfieldenergy.com, or contact Tony Verrelli, CEO, Cleanfield 416 756-4890, firstname.lastname@example.org.