ANCASTER, ONTARIO--(Marketwire - Aug. 14, 2007) - On June 21, 2007 Cleanfield (TSX VENTURE:AIR) announced it was entering into a letter of engagement with Wolverton Securities Ltd. to act as agent for a brokered private placement. Cleanfield will issue a minimum of 400,000 common shares up to a maximum of 600,000 shares at a price of $2.50 per common share for gross proceeds of a minimum of $1,000,000 to a maximum of $1,500,000. Cleanfield has set an August 24, 2007 closing date for the private placement.
About Cleanfield Alternative Energy
Cleanfield Alternative Energy is the parent company of Cleanfield Energy(TM) and is committed to the development of renewable energy products for various applications. Cleanfield's V3.5 can be mounted on a tower or rooftop, offering electricity independence and security. The VAWT operates in various wind conditions with less concern about wind direction or variability and has fewer problems under icy conditions than conventional wind turbines. Excess power generated from a wind turbine can be stored for later use or, in some jurisdictions, sold back to the utility power grid system.
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