XZERES Wind Raises $4.5 Million In Equity Private Placement

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XZERES Wind Corp., a designer, developer and producer of distributed generation wind power systems up to 100 kW, has completed equity financing for approximately $4.5 million in a private placement of about 4.3 million shares ($1.05 per share) to a group of institutional investors and individuals.

In addition, each purchaser of the company's common stock also received warrants to purchase additional shares in an amount equal to 50% of the number of shares purchased, exercisable at $1.50 per share. 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.

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