TORONTO, Aug. 20 /CNW/ - Cleanfield Alternative Energy Inc. (TSX-V: AIR) ("Cleanfield"), an international leader in Vertical Axis Wind Turbine (VAWT) solutions, announces that, subject to TSX Venture Exchange ("Exchange") approval, it will issue 679,058 common shares at $0.14 per share to satisfy certain debt owing to four arm's length creditors of its subsidiary, Cleanfield Energy Corp., as a result of previously signed "shares for services" agreements. The common shares will be issued when the Exchange's approval is received. All common shares issued will be subject to a four-month Exchange hold period when issued.
About Cleanfield: Cleanfield Energy provides renewable energy technology solutions primarily for urban environments. The company's industry-leading 3.5kW VAWT is sold worldwide, and can be customized and integrated in various ways to produce clean energy safely, quietly and cost effectively.
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 economic performance and reflect the current assumptions and expectations of management. Unknown factors may affect the events, economic performance 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 law.
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