Toronto Stock Exchange (Venture) Symbol: "WND"
OTCQX Symbol: "WNDEF"
Issued and Outstanding: 60,702,947
VANCOUVER, Jan. 11, 2012 /CNW/ - Western Wind Energy Corp. -- (Toronto Venture Exchange -- "WND") (OTCQX -- "WNDEF"), is pleased to
announce that it has arranged a $3.1 million non-brokered private
placement of 1.55 million units at $2.00 Cdn. per unit. Each unit
consists of one (1) common share and one-half (1/2) of a share purchase
warrant. Each full warrant can be exercised at $2.00 for the purchase
of an additional common share, for a period of two (2) years.
Western Wind has executed a finder's fee arrangement with PI Financial
Corp. ("PI") whereby PI introduced investors to Western Wind. PI shall
be paid 7% cash and 7% share purchase warrants entitling PI to purchase
one additional common share at $2 per share, for a period of two (2)
The use of proceeds will be for the Yabucoa Project, Puerto Rico, future
acquisitions and working capital.
About Western Wind Energy Corp.
Western Wind Energy Corp. (OTCQX: WNDEF) (TSXV: WND ) trades in the United States on the OTCQX
under the symbol "WNDEF" and on the Toronto Venture Exchange under
"WND". Western Wind is a vertically integrated renewable energy
production company that currently owns 165 MW of rated solar and wind
capacity in production in the States of California and Arizona. Western
Wind further owns substantial additional development assets for both
solar and wind energy in California, Arizona, Ontario, Canada; and in
the Commonwealth of Puerto Rico.
Western Wind is in the business of owning and operating wind and solar
energy generating facilities. Management of Western Wind 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
President & 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. 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 state of the Company's business activities and various 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.
SOURCE Western Wind Energy
For further information:
Investor Relations Contact:
Telephone: (416) 992-7227