•• June 7, 2002 •• SolarQuest® iNet News Service ••
Western Wind Energy Corp. (the "Company") is pleased to announce that it has received, from the placees of the private placement announced April 22, 2002, Cdn.$1.4 million. This financing is a very significant event for the Company. The funds will be used to complete the acquisition of approximately 1,000 acres of clear title land located within the famous Tehachapi Pass Wind Park. Tehachapi Pass is home to over 6,000 wind turbine generators and is a leading, world class wind park delivering over 700 megawatts of badly needed electricity to the State of California. The acquisition of the land is a major milestone towards the production of 100 megawatts of clean wind generated electricity. The Company's management has been operating a wind farm in Tehachapi continuously and profitably, for the past 21 years. Based on management's 21 year operating history, 100 megawatts has an annual revenue base of between US $25 - $30 million. Tehachapi Pass is rated as a class 6 wind speed, the top in the industry. Further to and in compliance with the Company's offering memorandum dated January 15, 2002, the Company has constructed 50 meter wind monitoring towers at its Arizona site replacing 10 meter towers that had been in place for over two years. In continuation of the Company's marketing plan as outlined in the offering memorandum, the Company is in advanced discussions with five utility and industrial concerns in the southwestern United States, regarding the production and sale of wind generated electricity. The contemplated production in the Southwestern United States, in addition to Tehachapi, is an additional 150 megawatts. The Company is very pleased with its progress to date and is in discussions with a major Canadian brokerage firm regarding an institutional private placement. The above mentioned private placement of Cdn. $1.4 million, is subject to final approval from the TSX Venture Exchange. ON BEHALF OF THE BOARD OF DIRECTORS,
Jeffrey J. Ciachurski, President
Western Wind Energy Corp.
TEL: (604) 781-4192, FAX: (604) 939-1292
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