TORONTO, May 7 /CNW/ - Cleanfield Alternative Energy Inc. (TSX-V: AIR, "Cleanfield"), an international leader in Vertical Axis Wind Turbine (VAWT) solutions, received TSX Venture Exchange ("Exchange") approval to issue 279,511 common shares at $0.32 per share to satisfy certain debt owing to five arm's length creditors of its subsidiary, Cleanfield Energy Corp. These common shares were issued as a result of previously signed "shares for services" agreements. All common shares issued are subject to a four-month Exchange hold period expiring August 27, 2010.
About Cleanfield: Cleanfield is committed to developing renewable energy products for the urban environment. The company produces an industry-leading 3.5 kW VAWT, which can be installed in various ways, produces green renewable energy quietly and cost effectively and which is sold worldwide.
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 economic performance and reflect the current assumptions and expectations of management. Unknown factors may affect the events, economic performance 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 law.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Cleanfield Alternative Energy Inc.
For further information: For further information: Go to www.cleanfieldenergy.com, or contact Tony Verrelli, CEO, Cleanfield, (905) 304-5223, email@example.com