Western Wind: Private Placement
Western Wind Energy Corp. 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) years.
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. 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
Investor Relations Contact:
Telephone: (416) 992-7227