Toronto Stock Exchange (Venture) Symbol: "WND"
Issued and Outstanding: 45,940,507
VANCOUVER, June 18 /CNW/ - Western Wind Energy Corp. ("Western Wind" or
the "Company") is pleased to announce that it, and its wholly-owned subsidiary
Aero Energy, LLC, have acquired, in an arm's length transaction, important
parcels of land (the "Property") located in Tehachapi, California from two
individuals. The purchase price for the Property was US$1,000,000, which was
payable as to US$200,000 in cash and US$800,000 in units (a "Unit") of the
Company at a deemed price of $0.65 per Unit. The acquisition was originally
announced by the Company in a news release dated March 31, 2009.
The land forms part of a very strategic connection corridor between
Western Wind's Windstar Project and the newly acquired Windswept Project.
Windswept is in the heart of our major competitor's key resource areas, and
currently may support up to an additional 30 MW.
Each Unit is comprised of one common share and one half of one share
purchase warrant. Each whole warrant (a "Warrant") will entitle the holder to
acquire one additional share of the Company at a price of $1.00 per Warrant
Share for a period of 24 months from the date the Units were issued. The hold
periods for the Units and underlying securities expires October 11, 2009.
The securities issued in connection with the acquisition of the land will
not be registered under the United States Securities Act of 1933, as amended,
or applicable state securities laws, and may not be offered or sold in the
United States absent registration or an applicable exemption from such
About Western Wind Energy Corp.
Western Wind Energy Corp. is a wind energy electrical production company
that currently has over 500 wind turbines with 34.5 MW of rated capacity and a
further 120 MW of expansion power purchase agreements in the State of
California. Western Wind Energy is in the business of acquiring land sites and
technology for the production of electricity from wind energy. Management of
Western Wind Energy includes individuals involved in the operations and
ownership of utility scale wind energy facilities in California since 1981.
ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey J. Ciachurski
Chief Executive Officer
Neither the 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.
Certain statements in this press release constitute "forward-looking
statements" under applicable securities laws, which involve known and unknown
risks, uncertainties and other factors that may cause actual results to be
materially different from any future results, performance or achievements
expressed or implied by such statements. Words such as "expects",
"anticipates", "intends", "projects", "plans", "will", "believes", "seeks",
"estimates", "should", "may", "could", and variations of such words and
similar expressions are intended to identify such forward-looking statements.
Such statements in this news release include, but are not limited to, the
Company's intended use of proceeds from the Offering. These statements are
based on management's current expectations and beliefs and actual events or
results may differ materially. There are many factors that could cause such
actual events or results expressed or implied by such forward-looking
statements to differ materially from any future results expressed or implied
by such statements. Such factors include, but are not limited to, the
Company's ability to profitably utilize the lands as planned and the other
factors discussed in the Company's annual report and annual information
contained in the Company's 20F Annual Report filed with the United States
Securities and Exchange Commission and securities regulators in Canada.
Forward-looking statements are based on current expectations and the Company
assumes no obligation to update such information to reflect later events or
developments, except as required by law.
For further information:
For further information: Western Wind Energy Corp., 1326 - 885 West
Georgia Street, Vancouver, BC, V6C 3E8, Telephone: (604) 685-WIND (9463),
Facsimile: (604) 685-9441 www.westernwindenergy.com