Shear Wind Announces Repayment in Full of Subordinated Loan
November 11 2011 - 11:01AM
Marketwired
Shear Wind Inc. ("Shear Wind" or the "Company") (TSX VENTURE:SWX)
announced today that on October 31, 2011, Glen Dhu Wind Energy
Limited Partnership ("Glen Dhu LP") repaid in full the subordinated
loan of CDN$2,100,000 (the "Subordinated Loan") provided by
Inveravante Inversiones Universales, S.L. ("Inveravante"). This
loan was announced in a press release on October 14, 2010.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities of Shear Wind in any
jurisdiction.
About Shear Wind
Founded in 2005, Shear Wind is headquartered in Halifax, Nova
Scotia and is engaged in the exploration and development of
renewable wind energy properties in Canada. Shear Wind is focused
on building a strong company based on a secure and sustainable
supply of clean wind energy. Shear Wind is committed to building
shareholder value governed by environmental stewardship.
Inveravante Inversiones Universales, S.L., an international
corporation based in Spain, indirectly owns 62% of Shear Wind on a
fully-diluted basis and 49% of Glen Dhu Wind Energy Limited
Partnership through Genera Avante Holdings Canada Inc., following
its investment in Shear Wind in November 2009.
Additional information on the various projects may be viewed on
Shear Wind's website: www.shearwind.com.
Forward-Looking Statements / Information
This news release may include certain forward-looking
information, including statements relating to business and
operating strategies, plans and prospects, using words including
"anticipate", "believe", "could", "expect", "intend", "may",
"plan", "potential", "project", "seek", "should", "will", "would"
and similar expressions, which are intended to identify a number of
these forward-looking statements. Forward-looking information
reflects current views with respect to current events and is not a
guarantee of future performance and is subject to risks,
uncertainties and assumptions. Actual results may differ materially
from information contained in the forward-looking information as a
result of a number of material factors, including failure to secure
adequate financing to develop projects of Shear Wind. Shear Wind
undertakes no obligation to publicly update or revise any
forward-looking information contained in this news release, except
as may be required by applicable laws, rules and regulations.
Readers are urged to consider these factors carefully in evaluating
any forward-looking information.
Shear Wind Inc. trades on the TSX Venture Exchange under the
symbol "SWX".
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.
Contacts: Shear Wind Inc. Mike Magnus President & CEO
902-444-7420mmagnus@shearwind.com
Shear Wind Inc. (TSXV:SWX)
Historical Stock Chart
From Aug 2024 to Sep 2024
Shear Wind Inc. (TSXV:SWX)
Historical Stock Chart
From Sep 2023 to Sep 2024