XZERES Wind Corp., a designer, developer and producer of distributed-generation wind power systems up to 100 kW, has completed a second and final closing of its recent equity financing, raising an additional $585,700. Combined with its first closing, announced on March 21, XZERES has raised total gross proceeds of approximately $5 million in a private placement of about 4.8 million shares.
The company plans to use these proceeds for sales and marketing, product development to expand its renewable energy product portfolio, and general working capital.
SOURCE: XZERES Wind Corp.
