TORONTO, May 21 /CNW/ - May 21, 2010 - Cleanfield Alternative Energy Inc. ("Cleanfield", TSX-V: AIR), an international leader in vertical axis wind turbines ("VAWT") technology solutions, announces that, subject to TSX Venture Exchange ("Exchange") approval, it will issue 1,108,425 common shares at $0.20 per share and 1,108,425 warrants with an exercise price of $0.30 per share to satisfy $221,685 of Cleanfield's matured Series A debt owing to an arm's length creditor of Cleanfield. The warrants expire on May 21, 2012. The common shares and warrants will be issued when the Exchange's approval is received. All common shares and warrants issued will be subject to a four-month Exchange hold period when issued.
About Cleanfield: Cleanfield is committed to developing renewable energy products for the urban environment. The company produces an industry-leading 3.5 kW VAWT, which can be installed in various ways, produces green renewable energy quietly and cost effectively and which is sold worldwide.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Cleanfield Alternative Energy Inc.
For further information: For further information: Go to www.cleanfieldenergy.com, or contact Tony Verrelli, CEO, Cleanfield, (905) 304-5223, firstname.lastname@example.org