Western Wind Energy Corp. Forms Special CommitteeBy Western Wind Energy, PRNE
Sunday, October 16, 2011
VANCOUVER, British Columbia, October 18, 2011 -
- Toronto Stock Exchange (Venture) Symbol: “WND”
- OTCQX Symbol: “WNDEF“
- Issued and Outstanding: 59,780,539
Western Wind Energy Corp. — (Toronto Venture Exchange — “WND”) (OTCQX — “WNDEF”), Further to its news releases on October 11, 2011, Western Wind Energy Corp. (”Western Wind Energy”) announces that in response to the letter received from Algonquin Power and Utilities Corp., it has formed a special committee of its directors to consider any formal offer, if any, that may be put forward and to consider other alternatives that may be available to Western Wind Energy. Western Wind Energy has also retained RBC Capital Markets and PI Financial Corp. to provide strategic advice to the board and McMillan LLP has been retained as counsel to the special committee.
About Western Wind Energy Corp.
Western Wind Energy Corp. (OTCQX: WNDEF) (TSXV: WND) trades in the United States on the OTCQX under the symbol “WNDEF” and on the Toronto Venture Exchange under “WND”. Western Wind is a vertically integrated renewable energy production company that currently owns over 500 wind turbines and a solar field with 165 MW of rated capacity either in production or in construction in the States of California and Arizona. Western Wind further owns substantial additional development assets for both solar and wind energy in California, Arizona, and Ontario, Canada; and in the Commonwealth of Puerto Rico.
Western Wind is in the business of owning and operating wind and solar energy generating facilities. Management of Western Wind includes individuals involved in the operations and ownership of utility scale wind energy facilities in California since 1981.
ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey J. Ciachurski
President & Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this press release constitute “forward-looking statements” under applicable securities laws, which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as “expects”, “anticipates”, “intends”, “projects”, “plans”, “will”, “believes”, “seeks”, “estimates”, “should”, “may”, “could”, and variations of such words and similar expressions are intended to identify such forward-looking statements. Such statements in this news release include, but are not limited to, the Company’s discussion concerning the proposal put forward by Algonquin Power. These statements are based on management’s current expectations and beliefs and actual events or results may differ materially. Algonquin Power has not made a formal offer to acquire any interest in the Company and there is no certainty that any offer will be made. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Such factors include, but are not limited to, the state of the Company’s business activities and various factors discussed in the Company’s annual report and annual information contained in the Company’s 20F Annual Report filed with the United States Securities and Exchange Commission and securities regulators in Canada. Forward-looking statements are based on current expectations and the Company assumes no obligation to update such information to reflect later events or developments, except as required by law.
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