AAER Inc. announces the closing of a private offering of $569,000


    MONTREAL, April 15 /CNW/ - AAER inc. (TSX-V : AAE) ("AAER" or the
"Corporation"), Canada's only original equipment manufacturer of wind turbines
of 1 megawatt ("MW") and more, is pleased to announce that it completed today
a private offering of 569 units (the "Units") for total gross proceeds of
$569,000. Each Unit consists of one convertible unsecured subordinated
debenture in the principal amount of $1,000 (each, a "Debenture") and 2,000
common share purchase warrants (each, a "Warrant").
    The principal amount of each Debenture bears interest at an annual rate
of 15% payable semi-annually, in cash, on April 30 and October 31 of each year
commencing on October 31, 2009. The Debentures mature on April 30, 2010 (the
"Maturity Date") unless the Corporation completes, before the Maturity Date,
an equity offering for gross proceeds of $2,000,000 or more, in which case,
the Debenture is redeemable by the Corporation at the closing of such equity
offering (the "Early Maturity Date") or, if the holder so elects, the
Debenture may be converted into common shares of the Corporation (the "Common
Shares") at a price of $0.24 per share. At any time before the Maturity Date
or the Early Maturity Date, as the case may be, each Debenture may be
converted, at the holder's option, into Common Shares at a conversion price of
$0.24. After December 31, 2009 but before the Maturity Date or the Early
Maturity Date, as the case may be, each holder has the option to have his
Debenture repaid, in whole or in part, at a price equal to the principal
amount then outstanding plus any accrued and unpaid interest thereon.
    Each Warrant comprised in the Units entitles the holder thereof to
acquire one Common Share at any time until 17:00 (E.T.) on April 14, 2010 at a
price of $0.25, subject to the early expiry provisions contained therein.
    In connection with this private offering, the Corporation has paid a
finder's fee in the aggregate amount of $45,520 and has issued a total of
189,667 warrants exercisable at a price of $0.25 for a term of 12 months from
the date hereof.
    The Debentures, the Warrants, the warrants issued as part of the finder's
fee and the Common Shares underlying the Debentures and the Warrants are
subject to a statutory four-month hold period.
    The net proceeds of this private offering will be used by the Corporation
for general corporate and working capital purposes.

    This news release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities, in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of such jurisdiction. The securities have not been and will not be
registered under the United States Securities Act of 1933, as amended, or any
state securities laws and may not be offered or sold within the United States
unless an exemption from such registration is available.

    About AAER Inc.

    AAER is a wind turbine manufacturer located in Bromont, Quebec that
manufactures and maintains high capacity 1 Megawatt or more wind turbines
principally for the North American market. Its strategy is to progressively
build its product's components to provide a high level of reliability and
competitive pricing to its customers. AAER uses a portfolio of proven European
technologies to ensure the performance of its turbines in various wind
conditions and terrains. Its stock is listed on the TSX Venture Exchange
(TSX-V: AAE). Additional information is available on the Company's website at

    Forward-Looking Statements

    This news release contains certain forward-looking statements or forward
looking-information. These forward looking statements are subject to a variety
of risks and uncertainties beyond the Corporation's ability to control or
predict which could cause actual events or results to differ materially from
those anticipated in such forward looking statements. Such risks and
uncertainties are disclosed under the heading "Risk Factors" in the
Corporation's Annual Information Form for the year ended December 31, 2008 and
dated March 26, 2009. Further, forward-looking information is in addition
based on various assumptions, including, without limitation, assumptions
about: (i) general business and economic conditions; (ii) selection of the
Corporation's client bids in different requests for proposals; (iii) the
availability of financing on reasonable terms; (iv) the availability of key
components for the assembly of wind turbines, (v) the costs of raw materials
and parts; (vi) the Corporation's ability to attract and retain skilled staff;
(vii) market competition; (viii) the technology offered by the Corporation's
competitors; (ix) the Corporation's ability to meet contractual obligations
and delivery dates; and (*) the Corporation's ongoing relations with employees
and with clients. Should one or more of these risks and uncertainties
materialize, or should the underlying assumption prove incorrect or different,
actual results may vary materially from those described in the forward-looking
statements. All forward looking statements speak only as of the date of this
news release. Accordingly, readers should not place undue reliance on
forward-looking statements.

    Neither 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.

    %SEDAR: 00019641EF

For further information:

For further information: AAER Inc., Dave Gagnon, President, Telephone:
(450) 534-5155, www.aaer.ca; The Equicom Group Inc., Glen Williams, Telephone:
(416) 815-0700 ext. 272, gwilliams@equicomgroup.com

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