TSX.V Symbol: "WND"
OTCQX Symbol: "WNDEF"
Issued and Outstanding: 68,427,401
VANCOUVER, Sept. 14, 2012 /CNW/ - Western Wind Energy Corp. - (the "Company" or "Western Wind") (TSX Venture Exchange - "WND")
(OTCQX - "WNDEF") announces that Western Wind, together with Rothschild
and PI Financial Corp., are committed to a methodical and focused sales
process. With over 50 parties reviewing materials, and 16 parties into
the process, we expect a robust forum within a level playing field. The
buying parties are comfortable with the current board's expertise and
detailed knowledge of the Company's assets. Unlike the dissident board
who personally own no shares of Western Wind, the current Board is
motivated by making the right choices as our 14-year history with the
shareholders and our large share position is aligned in the right
direction. The Board will take the highest credible offer, and forward
the best offer for full approval to the shareholders. The highest bid
will not be denied.
Western Wind also reports that it has commenced legal actions in both
Canada and the United States against the dissident Savitr Capital, LLC
in response to what Western Wind believes are misleading statements and
misuse of its registered trademark that may affect the voting process.
Western Wind is pleased by the recommendation made by Glass, Lewis and
Co., the world's largest truly independent proxy advisory firm, to have
the shareholders vote for the current board. The May 10, 2012 edition
of the Financial Post discusses how the United States Securities and
Exchange Commission is concerned about and questions the independence
of firms such as ISS that offer other services to institutional
Western Wind urges shareholders to support the current Board of
Directors and the sale process currently underway. Vote only the YELLOW
proxy and ensure Western Wind receives it prior to Friday, September
21, 2012 at 10:00 a.m. (Vancouver Time). Please do not vote using the
dissident proxy. Western Wind's letters to shareholders, management information circular
and other proxy materials can be found on Western Wind's website: www.westernwindenergy.com. Please check the website regularly for current information regarding
the sale process and the shareholder meeting.
If you have any questions and/or need assistance in voting your shares,
please call Laurel Hill Advisory Group LLC at 1-877-452-7184 or via
email at email@example.com.
ABOUT WESTERN WIND ENERGY CORP.
Western Wind is a vertically integrated renewable energy production
company that owns and operates wind and solar generation facilities
with 165 net MW of rated capacity in production, in the States of
California and Arizona. Western Wind further owns substantial
development assets for both solar and wind energy in the U.S. The
Company is headquartered in Vancouver, BC and has branch offices in
Scottsdale, Arizona and Tehachapi, California. Western Wind trades on
the TSX Venture Exchange under the symbol "WND", and in the United
States on the OTCQX under the symbol "WNDEF".
The Company owns and operates three wind energy generation facilities in
California, and one fully integrated combined wind and solar energy
generation facility in Arizona. The three operating wind generation
facilities in California are comprised of the 120MW Windstar, the 4.5MW
Windridge facilities in Tehachapi, and the 30MW Mesa wind generation
facility near Palm Springs. The facility in Arizona is the Company's
10.5MW Kingman integrated solar and wind facility. The Company is
further developing wind and solar energy projects in California,
Arizona, and Puerto Rico.
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.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release contains certain statements that may be considered
"forward-looking statements", such as references to the intended sale
of Western Wind and its assets. Forward looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" and similar
expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur. The forward-looking statements in this press
release include statements regarding the intention of the Company to
complete legal action against the dissident. The forward-looking
statements included in this press release are based on reasonable
assumptions, including that the Company will be able to commence legal
action against the dissident. Factors that may cause results to vary
from anticipations include the risk that the Company is not able to
pursue legal action against the dissident. Although Western Wind
believes the expectations expressed in the forward-looking statements
are based on reasonable assumptions, such statements are not guarantees
of future performance and actual results may differ materially from
those contained in forward looking statements. Forward looking
statements are based on the beliefs, estimates and opinions of Western
Wind's management on the date the statements are made. Western Wind
undertakes no obligation to update these forward-looking statements in
the event that management's beliefs, estimates or opinions, or other
factors, should change, except as required by law.
SOURCE: Western Wind Energy
For further information:
Investor Relations Contact:
Tel: (416) 992-7227