/DISTRIBUTION OF THIS NEWS RELEASE IS RESTRICTED SOLELY TO CANADA. IT
CANNOT BE DISTRIBUTED IN THE UNITED STATES THROUGH U.S.-BASED WIRE
MONTREAL, Nov. 13 /CNW/ - AAER Inc. (TSX-V: AAE), Canada's only wind
turbine manufacturer, is pleased to confirm the closing of its previously
announced private placement on a best efforts basis for the issuance of
11,000,000 units at Cdn $1.15 per unit. Each unit is composed of one common
share and one-half warrant. Each whole warrant entitles its holder to purchase
one additional common share of AAER at a price of Cdn $1.60 at any time until
November 13, 2009.
The offering was made through Canaccord Adams. Canaccord Adams received
broker warrants of AAER allowing it to subscribe for 660,000 common shares of
AAER (6% of the total number of units subscribed), at $1.15 per share, for a
period of 18 months following the present date.
"In the context of growing market opportunities, this infusion of capital
comes at an important moment in the development of our Company," said Dave
Gagnon, President and CEO of AAER. "As the demand for wind turbines continues
to accelerate, this offering will provide us with the necessary capital to
secure our supply chain and allow us to be in a strong position to begin
assembly and production as planned."
Net 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.
The securities offered have not been registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the United States
absent registration or applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities
in any State in which such offer, solicitation or sale would be unlawful.
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.
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.
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, email@example.com