CATCH THE WIND FILES PRELIMINARY SHORT FORM PROSPECTUS
13 May 2011 - 7:50AM
PR Newswire (Canada)
MANASSAS, VA, May 12 /CNW/ -- /NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
MANASSAS, VA, May 12 /CNW/ - Catch the Wind Ltd. (TSXV: CTW),
providers of feed-forward, intelligent turbine performance
improvement systems that deliver increased energy output and
reduced equipment stress loads for utility scale wind turbine
generators, announced today that it has filed a preliminary short
form prospectus with regulatory authorities in Ontario, Alberta,
and British Columbia, in connection with a best efforts offering of
common shares in the Company. The offering size and price will be
set within the context of the market immediately prior to the
filing of the final short form prospectus. The offering will be led
by Jacob Securities Inc. (the "Agent"). The Company has granted the
Agent an over-allotment option to purchase up to an additional 15%
of the common shares to be issued pursuant to the offering on the
same terms and conditions as the offering, exercisable in whole or
in part for a period of up to 30 days following the closing of the
offering. The Agent will receive a cash fee equal to 6% of the
gross proceeds raised through the offering and the over-allotment
option. In addition, subject to the successful completion of
the offering, the Company will grant the Agent compensation options
(the "Compensation Options") exercisable for a period of 24 months
following the closing of the offering to purchase up to that number
of common shares as is equal to 6% of the common shares sold
pursuant to the offering (including upon the exercise of the
over-allotment option) at an exercise price per common share equal
to the offering price. The Company intends to use the net proceeds
of the offering for ongoing cost reduction programs relating to the
production of the Company's Vindicator® laser wind sensor (LWS),
customer support initiatives relating to the installation and
maintenance of Vindicator® LWS units and collaborative projects
with strategic partners, and working capital requirements,
including, but not limited to, those associated with accelerating
sales and increased market penetration. The offering is subject to
certain conditions including, but not limited to, the receipt of
all necessary approvals, including the approval of the TSX Venture
Exchange and securities regulatory authorities This press release
is not an offer to sell or the solicitation of an offer to buy the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to qualification or registration under
the securities laws of such jurisdiction. The securities being
offered have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and such
securities may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. persons absent
registration or an applicable exemption from U.S. registration
requirements About Catch the Wind Ltd. Catch the Wind Ltd. is a
high-growth technology company headquartered in Manassas, Virginia.
The company was founded in 2008 to develop and manufacture the
Vindicator® laser wind sensor. Catch the Wind serves the commercial
market sector for laser based wind sensor systems, recognized as
the "gold standard" in wind measurement. The company is focused on
becoming a major contributor in making clean, renewable wind energy
more affordable and profitable. For more information, visit
www.catchthewindinc.com. Forward-Looking Information This news
release includes certain forward-looking statements within the
meaning of Canadian securities laws. Forward-looking statements
involve risks, uncertainties and other factors that could cause
actual results, performance, prospects and opportunities to differ
materially from those expressed in such forward-looking statements.
Forward-looking statements in this news release, include, but are
not limited to, economic performance and future plans and
objectives of Catch the Wind. Any number of important factors could
cause actual results to differ materially from these
forward-looking statements as well as future results. Although
Catch the Wind believes that the assumptions and factors used in
making the forward-looking statements are reasonable, undue
reliance should not be placed on these statements, which only apply
as of the date of this news release, and no assurance can be given
that such events will occur in the disclosed timeframes or at all.
Catch the Wind disclaims any intention or obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise. 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. To
view this news release in HTML formatting, please use the following
URL:
http://www.newswire.ca/en/releases/archive/May2011/12/c4172.html
table border="0" valign="top" tr td Catch the Wind
Ltd. /td td /td td /td
td /td td /td td TMX Equicom /td /tr tr td Claudia
Jaques /td td /td td
/td td /td td /td td Joe Racanelli /td /tr tr td Vice
President and General Counsel /td td /td
td /td td /td td /td td Investor Relations /td
/tr tr td 703-393-0754 /td td
/td td /td td /td td /td td
416-815-0700 ext. 243 /td /tr tr td a
href="mailto:cjaques@catchthewindinc.com"cjaques@catchthewindinc.com/a
/td td /td td /td td /td td
/td td a
href="mailto:jracanelli@equicomgroup.com"jracanelli@equicomgroup.co/aa
href="mailto:jracanelli@equicomgroup.com"m/a /td /tr /table
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