Toronto Stock Exchange (Venture) Symbol: "WND"
Issued and Outstanding: 25,969,859
COQUITLAM, BC, Oct. 2 /CNW/ - Western Wind Energy Corp. is pleased to
announce that it has negotiated a non-brokered private placement of 2,000,000
units at a price of $1.40 per unit. Each unit is comprised of one (1) common
share and one half (1/2) share purchase warrant. Each warrant entitles the
holder to purchase one (1) additional common share for a period of two years
at a price of $1.75 per share.
Loewen, Ondaatje, and McCutcheon Limited and Ascenta Finance Corp. will
act as financial advisors.
The proceeds will be used for development of the Company's projects.
The private placement is subject to regulatory approval.
Western Wind Energy is the largest producing pure wind energy, publicly
traded company (non-income trust) in North America. Western Wind Energy
currently produces 34.5 MW of energy from over 500 wind turbine generators
located in Southern California. Western Wind also has over 155 MW of expansion
power sales agreements with the associated projects in the late stage of
development. In addition, Western Wind Energy has a credible pipeline of over
1,300 MW of site locations in the State of California.
Western Wind Energy currently produces clean renewable electrical energy
from over 500 wind turbine generators located in Tehachapi and San Gorgonio
Pass (Palm Springs), California. Western Wind Energy's annualized energy
output is approximately 75 billion watt hours per year. During the past two
years, Western Wind Energy has executed or acquired over $1 billion of power
sales agreements totaling 169.4 megawatts from the sale of wind energy
electrical generation, to two separate utilities. Western Wind Energy was the
first to execute a "wind" PPA in the State of Arizona, and in California, is
expanding from management's 25-year continuous operating history in the
Western Wind Energy is in the business of acquiring suitable land sites,
capital and technology for the production of electricity from wind energy.
Western Wind Energy conducts its operations through its wholly owned
subsidiaries in Arizona and California. Management of Western Wind Energy
includes individuals involved in the operations and ownership of utility scale
wind energy operations in California since 1981.
ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey J. Ciachurski
Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
Certain statements included herein are "forward-looking statements" as
defined by the Private Securities Litigation Reform Act of 1995. Management
cautions that forward-looking statements are not guarantees and that actual
results could differ materially from those expressed or implied in the
forward-looking statement. Important factors that could cause the actual
results of operations or financial condition of the Company to differ include,
but are not necessarily limited to, the risks and uncertainties discussed in
documents filed by the Company with the Securities and Exchange Commission.
For further information:
For further information: Western Wind Energy Corp., 632 Foster Avenue,
Coquitlam, BC, V3J 2L7, Telephone: (604) 839-4192, Facsimile: (604) 939-1292,