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Cleanfield Announces TSX Venture Exchange Approval of Share Issuance

^{Published on 2011-03-07 04:05:53 - Market Wire}
 

TORONTO, March 7 /CNW/ - Cleanfield Alternative Energy Inc. ("Cleanfield") (TSXV: AIR) announces that, after receiving TSX Venture Exchange ("Exchange") approval, it issued 126,610 common shares at $0.20 per share as a result of receiving a conversion notice for $25,000 in principal of the Series B 22% Senior Secured Convertible Redeemable Debentures. Furthermore, 1,610 common shares issued are subject to a four-month Exchange hold period expiring June 26, 2011. As part of the conversion, Cleanfield issued 125,000 warrants convertible at $0.30 per common share with an expiry date of July 31, 2012.

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 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.