Cleanfield announces default under secured term credit facility

TORONTO, Feb. 22, 2013 /CNW/ - The Board of Directors of Cleanfield Alternative Energy Inc. ("Cleanfield") (TSX VENTURE: AIR) announces that it has triggered an event of default as defined in Section 8.1 (e) of the Trust Indenture dated July 31, 2008. The secured credit amount is $1,475,000.

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, info@cleanfieldenergy.com.