Helix Wind Announces Change in Executive Leadership and Board of Directors
By Helix Wind Corp., PRNEMonday, March 8, 2010
SAN DIEGO, March 9, 2010 - Helix Wind, Corp. (OTC Bulletin Board: HLXW), a global renewable energy
company, announced today that Scott Weinbrandt, the Company's Chairman &
President, has been appointed as the Chairman & Chief Executive Officer (CEO)
of the Company effective as of March 8, 2010. Mr. Weinbrandt will replace Mr.
Gardner who has served as the Company's CEO since it was founded in 2006. Mr.
Gardner has resigned from the Company and as a member of the Company's Board
of Directors effective as of March 8, 2010 to pursue other opportunities.
In addition, Gene Hoffman, a member of the Company's Board of Directors
since June 2009, has also resigned from the Board effective March 8, 2010.
"I recognize and appreciate the work that Ian has contributed to the
company's current success over the past three years, and appreciate Gene's
contributions to the Company during his board membership," stated Mr.
Weinbrandt. "I believe in the Helix Wind team, its technology and the
Company's strategy. I am committed to continue working with the Helix team
executing on our business plan, including the focus on profitability,
liquidity and growth for our shareholders and customers. The Company plans to
enhance its Board by adding outside Directors in the near term," stated Mr.
Weinbrandt.
In addition, the Company has been in discussions with an investor to
complete a financing of up to US$1 million to be used for general working
capital needs and professional fees associated with the filing of a
registration statement. The Company anticipates the financing would be
completed in two tranches based on the Company meeting certain covenants to
be agreed upon by the investor and the Company. "With the anticipated
infusion of additional capital to meet the Company's working capital needs
and to complete an S-1 Registration Statement, we are grateful to be working
with such an investment partner," stated Mr. Weinbrandt.
Any financing remains subject to the negotiation and execution of
definitive investment agreements, and the Company cannot provide any
assurances that any such financing will be completed.
About Helix: Helix Wind, Corp., a global renewable energy company, is
engaged in the design, manufacturing and sale of small wind vertical axis
turbine designed to generate 300W, 1kW, 2.0kW, 4.0kW, and 50kW of clean,
renewable electricity. Additional information can be found at
www.helixwind.com.
Safe Harbor Statement: A number of statements contained in this press
release are forward-looking statements within the meaning of applicable
federal securities laws, including, without limitation, anything relating or
referring to future financial results and plans for future business
development activities, and are thus prospective. These forward-looking
statements involve a number of risks and uncertainties, including our ability
to attract and retain management and field personnel with experience in the
small wind turbine industry, our ability to raise capital when needed and on
acceptable terms and conditions, the intensity of competition and general
economic factors. The actual results Helix Wind may achieve could differ
materially from any forward-looking statements due to such risks and
uncertainties. Helix Wind encourages the public to read the information
provided here in conjunction with its most recent filings, which may be
viewed at www.sec.gov.
Scott Weinbrandt, Chairman & CEO of Helix Wind, Corp., 1-877-2GOHELIX (246-4354), Int: +1-619-501-3932, Fax: +1-619-330-2628, media at helixwind.com
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