TORONTO, Feb. 29, 2012 /CNW/ - Cleanfield Alternative Energy Inc. ("Cleanfield") (TSX VENTURE: AIR) announces that, after receiving TSX Venture
Exchange approval, it issued 1,721,980 common shares at $0.05 per share
to satisfy certain debt owing to four arm's length creditors of its
subsidiary, Cleanfield Energy Corp. All common shares issued are
subject to a four-month Exchange hold period expiring June 28, 2012.
About Cleanfield Alternative Energy: Cleanfield is an innovative technology company focused on the research,
development and distribution of renewable energy solutions for the
urban environment. The company owns industry leading and proprietary
inverter technologies, which it currently sells through a complete
solution - a 3 kW vertical axis wind turbine. The company is also
developing several advanced solar photovoltaic technologies with
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 results including revenues and reflect the current
assumptions and expectations of management. Unknown factors may affect
the events, performance, revenues 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 laws.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
SOURCE Cleanfield Alternative Energy Inc.
For further information:
Go to www.cleanfieldenergy.com or contact Tony Verrelli, CEO, Cleanfield at 416 756-4890 or firstname.lastname@example.org.