TORONTO, Dec. 31 /CNW/ - Cleanfield Alternative Energy Inc.
("Cleanfield") (TSX VENTURE: AIR) announced today that, after receiving
TSX Venture Exchange ("Exchange") approval, it issued 8,807,692 common
shares at $0.13 per share to complete its non-brokered private
placement for gross proceeds of $1,145,000. As part of the transaction,
a $100,000 finder's fee will be paid to KK Consulting Inc. of Brampton,
Ontario. All common shares issued are subject to a four-month Exchange
hold period expiring May 1, 2011.
Furthermore, Cleanfield has received Exchange approval to issue 855,001
common shares at $0.14 per share to satisfy certain debt owing to five
arm's length creditors of its subsidiary, Cleanfield Energy Corp. All
common shares issued are subject to a four-month Exchange hold period
expiring April 23, 2011.
About Cleanfield: Cleanfield is an innovative technology company focused on the research,
development and distribution of renewable energy solutions for the
urban environment. Cleanfield possesses industry leading, proprietary
inverter technologies, which it currently sells through a complete
solution - a 3.5 kW vertical axis wind turbine. The company's vision is
to be recognized as an international leader in bringing high-quality
and innovative sustainable energy solutions to the marketplace.
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