WindPower Innovations, Inc. (PINKSHEETS: WPNV) a
Post# of 88912
WindPower Innovations, Inc. (PINKSHEETS: WPNV) announced today that it had secured a $1 million capital facility from Exelerate Group of New York. The financing was arranged by Belmont Acquisitions of Phoenix, Arizona.
The Company qualified for this capital facility through Exelerate because of the strength of its business plans and the quality of its assets. The capital facility allows WindPower to draw down funds in tranches starting at $45,000 or more based upon a technical review by Exelerate, and as often as every 20 days.
John Myers, CEO of WindPower, said, "With this funding now secured and the funds committed, we can ensure adequate funding for the company's audit and other expenses related to becoming a fully-reporting company without using cash from our operating subsidiary." Mr. Myers further states management plans to utilize the capital facility sparingly, until its stock price appreciates significantly
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