AAER announces the completion of the second tranche of public offering announced on December 17, 2008



    
    /NOT FOR DISTRIBUTION TO THE U.S. NEWS WIRE SERVICES OR DISSEMINATION IN
    THE UNITED STATES/
    

    MONTREAL, Jan. 29 /CNW/ - AAER Inc. (TSX-V: AAE) ("AAER" or the
"Corporation"), Canada's only original equipment manufacturer of wind turbines
of 1 megawatt ("MW") and more, is pleased to announce that the second tranche
of the public offering announced in its press release dated December 17, 2008
was completed today for an amount of $1,138,755 consisting of 7,591,700 A
units (the "A Units") at a price of $0.15 per A Unit.
    Each A Unit, at a price of $0.15 per A Unit, consists of one common share
in the share capital of the Corporation (each, a "Common Share") and one
common share purchase warrant (each, a "Warrant"). Each Warrant entitles the
holder thereof to acquire one additional Common Share at a price of $0.25 per
Common Share until December 17, 2012 subject to the early expiry provisions
contained therein.
    This public offering was conducted by Canaccord Adams and Industrial
Alliance Securities Inc., acting as agents. The Corporation granted the agents
an additional 607,336 broker warrants A, each exercisable for one Common Share
until December 16, 2010 upon payment of the exercise price equal to $0.15.
    The net proceeds of this public offering will enable the Corporation to
support its 2009 production by allowing AAER: (i) to purchase manufacturing
equipment, in particular moulds for the production of wind turbine covers;
(ii) to proceed with final payments towards the purchase of certain nacelle
components; and (iii) for general corporate and working capital purposes.

    This news release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities, in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of such jurisdiction. The securities have not been and will not be
registered under the United States Securities Act of 1933, as amended, or any
state securities laws and may not be offered or sold within the United States
unless an exemption from such registration is available.

    
    About AAER Inc.
    ---------------
    

    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
competitive pricing to its customers. AAER uses a portfolio of proven European
technologies to ensure the performance of its turbines in various wind
conditions and terrains. Its stock is listed on the TSX Venture Exchange
(TSX-V: 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 or forward
looking-information. These forward looking statements are subject to a variety
of risks and uncertainties beyond the Corporation's ability to control or
predict which could cause actual events or results to differ materially from
those anticipated in such forward looking statements. Such risks and
uncertainties are disclosed under the heading "Risk Factors" in the Prospectus
dated December 12, 2008 and the Corporation's Annual Information Form for the
year ended December 31, 2007 and dated March 10, 2008. Further,
forward-looking information is in addition based on various assumptions,
including, without limitation, assumptions about: (i) general business and
economic conditions; (ii) selection of the Corporation's client bids in
different requests for proposals; (iii) the availability of financing on
reasonable terms; (iv) the availability of key components for the assembly of
wind turbines, (v) the costs of raw materials and parts; (vi) the
Corporation's ability to attract and retain skilled staff; (vii) market
competition; (viii) the technology offered by the Corporation's competitors;
(ix) the Corporation's ability to meet contractual obligations and delivery
dates; and (*) the Corporation's ongoing relations with employees and with
clients. Should one or more of these risks and uncertainties materialize, or
should the underlying assumption prove incorrect or different, actual results
may vary materially from those described in the forward-looking statements.
All forward looking statements speak only as of the date of this news release.
Accordingly, readers should not place undue reliance on forward-looking
statements.

    
    NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
    THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
    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., Glen Williams, Telephone:
(416) 815-0700 ext. 272, gwilliams@equicomgroup.com

Organization Profile

AAER INC.

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