|By Marketwired .||
|August 14, 2013 09:30 AM EDT||
PHOENIX, AZ -- (Marketwired) -- 08/14/13 -- 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.
A spokesperson for Exelerate Group stated, "The capital facility is ideal for companies with exceptional management and long-term sustainable growth opportunities with the potential to achieve significant milestones over a time period. We are excited to work with the management of WindPower as they continue to bring additional value to their shareholders." Management plans to utilize the capital facility sparingly until its stock price appreciates significantly.
WindPower management anticipates that the new capital facility will also help the company accelerate its acquisition growth objectives by assisting it to become fully-reporting which may, in turn, open doors to additional funding sources and acquisition opportunities.
About WindPower Innovations, Inc.
WindPower Innovations, Inc., is an acquirer of fundamentally sound sustainable technology, and renewable energy companies or those companies that benefit from "going green" which are market-accepted, scalable and demonstrate a quantifiable value proposition. Our focus is on organizations that have strong market presence, brand awareness and talented and dedicated management teams with the potential to achieve exceptional performance over time. By being acquired by WindPower Innovations these companies get access to our operational support, management approach and ability to access financial markets for operational and growth capital. By focusing on "sustainable and renewable" companies such as wind, solar, and companies utilizing sustainable technologies to make everyday products more affordable, more convenient and that may lower the "carbon footprint" we believe that we can create value for humanity at large and enhance shareholder value. WindPower Innovations has two subsidiaries; WindPower Solutions, Inc., that remanufactures wind power turbines for operators across the U.S., and R.I.G. Construction Inc. which markets under the "Cameo Brands" - Cameo Pools, Cameo Landscaping and Cameo Solar. For more information go to our websites at: www.wpienergy.com, www.cameopools.com
About Exelerate Group
Exelerate Group is a New York-based company that finances companies with a hybrid approach that relies on repeat transactions over a period of time. Exelerate differs from all sources of equity financing providers by taking a fundamentally separate approach to building long term relationships. As a financing partner, Exelerate provides capital throughout the lifecycle of public companies and has been doing so for several years. For more information please visit www.exelerate.com.
About Belmont Acquisitions, LLC
Belmont Acquisitions, LLC is a specialized advisory firm which strives to provide the highest quality level of service, within a broad spectrum of advisory services and attentive support including but not limited to; institutional financing & private funding introductions, merger, acquisition & divesture advice, restructuring and other negotiations assistance, investor relations, advisory services, for small to medium-sized businesses, as well as, turnarounds, and strategy consulting, investor relations support, collateral enhancements and research through Belmont Global Research. For more information visit our websites at; www.belmontacquisitions.com and, www.belmontglobalresearch.com
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding WindPower Innovations, Inc. expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. All statements contained herein are based upon current information available to WindPower Innovations, Inc.'s management as of this date. The business and operations of the Company are subject to substantial risks which increase the uncertainty that forward-looking results will be achieved and actual events or results may vary materially as a result of various important factors including those which management has little or no control. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.