Welwind Energy International Corp. (OTCBB:WWEI) has announced a
corporate update of windfarms in China.
Zhanjiang Windfarm -- During the due diligence period for the PPA,
an issue with the local Port Authority arose requiring meetings with
various levels of the Zhanjiang Government and the Port Authority. In a
meeting that took place between Welwind Management and its Directors,
along with high ranking officials of the Port Authority and Government,
all outstanding issues have been resolved and the PPA is proceeding as
expected.
Welwind Directors have been present in China since the
company's last news release and are committed to remaining in China
until PPA completion. The company has no concerns with obtaining the
PPA.
Yangxi Windfarm -- The company is pleased to announce that after
obtaining 16 months of data from its met tower at the Yangxi location, a
formal Project Proposal was submitted to the Yangxi Government. All data
collected to date shows promising results for the future build out of
this wind farm.
$500,000 Financing -- The company has completed a $500,000
financing which will be split amongst the two projects and head office
for overhead costs. This financing will adequately sustain the public
company's legal, auditing, accounting and administrative costs
until the PPA and project financing.
"We would like to reiterate that we understand the
shareholder's need for updates on the company and will provide them
as soon as they are available. We continue to be very excited about the
company's direction and look forward to completing all the
necessary, and lengthy, paperwork needed to complete the PPA. We also
look forward to providing additional news in the coming weeks,"
said Tammy-Lynn McNabb, president of Welwind.
New Transfer Agent -- The company has changed its transfer agent
from Select Fidelity Transfer Services to Wall Street Transfer Agents.
Notice was given to the transfer agent on January 14. The contact for
the new transfer agent is Mitz Lehner -- Toll Free: 1-866-455-WSTA
(9782). An 8K will be filed accordingly.
ABOUT WELWIND
Welwind Energy International Corp. is committed to providing the
best resource option available for renewable energy, protecting our
environment, empowering communities, bolstering local economies and
respecting the rights of future generations.
Welwind Energy International was founded to build, own and operate
wind farms on an international scale. The company's goal is to
become a leading provider of clean energy products for the residential,
business and governmental consumer.
For more information, call 604/460-8487 or visit
http://www.welwind.com.
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