AAER Announces a Private Placement for a Maximum of $10,005,000



    /DISTRIBUTION OF THIS NEWS RELEASE IS RESTRICTED SOLELY TO CANADA. IT
    CANNOT BE DISTRIBUTED IN THE UNITED STATES THROUGH U.S.-BASED WIRE
    SERVICES./

    MONTREAL, Nov. 5 /CNW/ - AAER Inc. (TSX-V : AAE) Canada's only wind
turbine manufacturer today announced that it has entered into an agreement
with Canaccord Adams to complete a private placement offering of units, on a
best efforts basis, for total gross proceeds of up to $10,005,000. Canaccord
Adams will offer up to 8,700,000 units, each composed of one common share and
one half of one common share purchase warrants (the "Unit"), at a price of
$1.15 per Unit (the "Offering"). Each whole warrant will entitle the holder to
acquire an additional common share, issued from treasury, at a price of $1.60
for a period of 24 months following the closing date. The Units sold under the
Offering will be subject to a four-month hold period. Closing is expected to
occur on November 13, 2007 and is subject to TSX Venture Exchange and required
regulatory approvals.
    "This private placement will enable us to order critical components and
secure our supply chain," said Dave Gagnon, President and CEO of AAER. "We
will then be in a good position to start manufacturing our blades and
assembling all components so we can deliver our first wind turbines as
planned, in 2008."
    Gross proceeds raised from the Offering will be used to meet capital
expenditures requirements at the Bromont manufacturing plant, to order certain
major components, to effect license payments and for working capital purposes.
    AAER will pay Canaccord Adams a cash commission of 6.0% of the gross
proceeds from the Offering, upon closing. On the closing date of the Offering,
Canaccord Adams will be granted compensation options equal in number to 6.0%
of the aggregate number of Units sold, exercisable for common shares of AAER
at an exercise price of $1.15 for a period of 18 months following the closing
date.
    This news release does not constitute an offer for sale or a solicitation
of any offer to purchase AAER securities in the U.S. These securities are not
- and will not be - registered under the amended version of the U.S.
Securities Act of 1933 (the "U.S. securities act"), or any securities
legislation enacted by a U.S. State, and cannot be placed or sold in the
United States or to any individuals of that country who are not registered
under the U.S. securities act or any applicable State-enacted securities laws,
or are unable to obtain a waiver of registration.

    About AAER Inc., (TSX-V: AAE)
    -----------------------------
    AAER is a wind turbine manufacturer located in Bromont, Quebec that
manufactures and maintains high capacity 1 Megawatt 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 a
competitive pricing to its customers. AAER uses proven European technologies
to ensure the performance of its turbines in various wind conditions and
complex terrains. Its stock is listed on the TSX Venture Exchange (AAE).
Additional information is available on the Company's Website at www.aaer.ca.

    Forward-Looking Statements
    --------------------------
    This news release contains certain forward-looking statements. These
statements relate to future events or AAER's future economic performance and
reflect the current assumptions and expectations of management. Certain
unknown factors may affect the events, economic performance and results of
operations described herein. AAER 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 law.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    %SEDAR: 00019641EF




For further information:

For further information: AAER Inc., Dave Gagnon, President, Telephone:
(450) 534-5155, www.aaer.ca; The Equicom Group Inc., Eric Bouchard, Telephone:
(514) 844-7997, ebouchard@equicomgroup.com

Organization Profile

AAER INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890