NACEL Energy Corp. has advanced approximately $111,687 in operating capital to Crownbutte Wind Power Inc. In addition, a further $278,000 in debt settlement and restructuring has been raised since NACEL acquired its stake in Crownbutte in January.
The funds advanced by NACEL to Crownbutte were used for general operating capital and expenses related to the development of Crownbutte's pipeline of new wind projects.
All capital invested in Crownbutte by NACEL is convertible into the common stock of Crownbutte based upon a formula authorized by NACEL's board of directors, according to the company.
