CTW Bluescout Technologies Ltd.

MANASSAS, VA, July 18, 2011 /CNW/ -- MANASSAS, VA, July 18, 2011 /CNW/ - Catch the Wind Ltd. (TSX-V: CTW), providers of laser-based wind sensor products and technology, announced today the appointment of Dr. Jo Major, Jr. as non-executive Chairman of the Board of Directors of the Company, replacing Philip Rogers, who is stepping down from the role of Chairman.  Mr. Rogers will remain a director of the Company.  Alisa Rogers is stepping down as a director of the Company. Mr. Rogers will not renew his employment agreement as President and Chief Executive Officer of the Company following its expiration on December 31, 2011, but will remain President and Chief Executive Officer of the Company until the earlier of December 31, 2011 or the date his successor is found. Subsequently, Mr. Rogers will assume the role of Strategic Advisor to the Company. The Board of Directors of the Company has established a special committee of independent directors to initiate and oversee the search for a successor to Mr. Rogers. The Company expects that the search for a new CEO will begin immediately. "On behalf of the board of directors of Catch the Wind, I would like to thank both Phil and Alisa, founders of Catch the Wind and inventors of the Company's Vindicator laser wind sensing system, for their dedication and many significant contributions to the development of the Company," said Dr. Jo Major, Chairman of the Board of Directors of the Company.  "Their entrepreneurial spirit and scientific vision have positioned the Company to capitalize on the significant commercial opportunities inherent in its technology and products." "I am very proud of what Catch the Wind has accomplished during my tenure," said Mr. Rogers.  "With the solid momentum achieved in recent months, the Company is well positioned for the commercial and operational phase of our evolution as an organization." Financing Update As previously announced, the Company has filed a final short form prospectus in relation to a proposed offering of common shares and units of the Company on a best efforts basis (the "Prospectus Offering"), pursuant to which the Company is seeking to raise minimum gross proceeds of CDN$15 million and maximum gross proceeds of CDN$30 million (please see the Company's June 29, 2011 news release for additional details regarding the Prospectus Offering). The Company is continuing to pursue the Prospectus Offering in the context of existing market conditions and has targeted July 29, 2011 as the proposed closing date of the Prospectus Offering. The Company will provide an update regarding the completion of the Prospectus Offering as and when details regarding the Prospectus Offering are finalized. In connection with the corporate governance initiatives described above and the Company's marketing efforts for the Prospectus Offering, Hunter Hall Investment Management Limited, the second largest shareholder of the Company, has pledged to provide a lead order of CDN$8 million to the Prospectus Offering. 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/July2011/18/c5926.html table border="0" valign="top" tr td Catch the Wind Ltd.      /td td TMX Equicom /td /tr tr td Claudia Jaques      /td td Philip Dale /td /tr tr td Vice President and General Counsel    /td td Investor Relations /td /tr tr td 703-393-0754       /td td 416-815-0700 ext. 253 /td /tr tr td a href="mailto:cjaques@catchthewindinc.com"cjaques@catchthewindinc.com/a     /td td a href="mailto:pdale@equicomgroup.com"pdale@equicomgroup.com/a /td /tr /table p   /p

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