VANCOUVER, April 1 /CNW/ AXEA Capital Corp. ("AXEA") (NEX: XEA.H) is pleased to provide this Press Release to its
shareholders and members of the public to update shareholders and
others with respect to its proposed "qualifying transaction" with
Two-West Wind and Solar Inc. ("Two-West") previously announced on February 14, 2011.
Subject to TSX Venture Exchange ("TSXV") approval, AXEA intends on lending Two-West, on a fully secured basis, in
one or more tranches, $75,000 in accordance with the rules of the TSXV
and subject to the approval of the board of directors of Two-West of
the proposed use of proceeds for the loan or each tranches thereof. The
foregoing loan is in addition to the $25,000 advanced to Two-West which
was announced on February 14, 2011.
About Two-West Wind and Solar
Two-West is a private vertical-axis wind turbine ("VAWT") and solar company with its head office located in Toronto, Ontario.
Two-West sells 4kw VAWTs to municipalities, schools, sports facilities
and golf courses and other commercial venues. In addition to selling
turbines, Two-West also sells sponsorship banners on the VAWTs,
creating a high-impact visual statement for sponsors and site owners
Trading of the common shares of AXEA has been halted in connection with
the announcement of the proposed "qualifying transaction", and will
recommence at such time as the TSXV may determine, having regard to the
completion of certain requirements pursuant to TSXV Policy 2.4. Further
details of the proposed transaction, including the consideration to be
paid, will follow in future press releases.
Completion of the transaction is subject to a number of conditions,
including but not limited to, Exchange acceptance and if applicable
pursuant to Exchange Requirements, majority of the minority shareholder
approval. Where applicable, the transaction cannot close until the
required shareholder approval is obtained. There can be no assurance
that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management
information circular or filing statement to be prepared in connection
with the transaction, any information released or received with respect
to the transaction may not be accurate or complete and should not be
relied upon. Trading in the securities of a capital pool company should
be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of
the proposed transaction and has neither approved nor disapproved the contents of this press release.
The information in this news release includes certain information and
statements about management's view of future events, expectations,
plans and prospects that constitute forward looking statements. These
statements are based upon assumptions that are subject to significant
risks and uncertainties. Because of these risks and uncertainties and
as a result of a variety of factors, the actual results, expectations,
achievements or performance may differ materially from those
anticipated and indicated by these forward looking statements. Although
AXEA believes that the expectations reflected in forward looking
statements are reasonable, it can give no assurances that the
expectations of any forward looking statements will prove to be
correct. Except as required by law, AXEA disclaims any intention and
assumes no obligation to update or revise any forward looking
statements to reflect actual results, whether as a result of new
information, future events, changes in assumptions, changes in factors
affecting such forward looking statements or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Axea Capital Corp.
For further information:
AXEA Capital Corp.
President & CEO