Science & Technology
Science and Technology
Science and Technology
Thu, January 29, 2009 Clearview Acquisitions Signs Definitive Purchase Agreement with Helix Wind, Inc.
NEW YORK--([ BUSINESS WIRE ])--Clearview Acquisitions, Inc. (OTCBB - CVAC) is pleased to announce it has executed a definitive purchase agreement with Helix Wind, a global renewable energy company. Under the terms of the agreement, Clearview will acquire 100% of Helix in consideration of approximately 20.5 million common shares of stock. When the transactions contemplated by the purchase agreement are consummated, Helix will become a wholly owned operating subsidiary of Clearview, with current Helix Wind, Inc. management continuing to run day-to-day operations of the company. Closing of the transaction is subject to customary conditions, including the receipt of the cancellation by Clearview of a total of 49,180,075 common shares and a capital raise by Clearview of not less than $650,000. Clearview Acquisitions, Inc. is currently quoted in the United States over the counter under the symbol CVAC and on the Frankfurt Stock exchange under the symbol VUU1, WKN A0RCNZ.
According to information provided to Clearview by Helix Wind, Inc. Helix Wind has gone to market with a tested and proven patent pending technology. Helix Wind hopes to revolutionize the small wind industry and related markets by providing cost effective residential and commercial vertical axes wind turbines. Helix Wind systems have high aesthetic design appeal, are priced for performance, environmentally safe, and provide unprecedented customer service and support.
Helix Wind offers two models of its Vertical Axes Wind Turbines (VAWT) for electricity generation. The Helix Wind S322 is a 2.5kW rated unit and is suitable for residential and other vertical market applications, while the S594 is a 5kW rated system suitable for residential and commercial applications which can produce electricity through all wind speeds and conditions.
Helix Wind, Inc. is headquartered in San Diego, CA. Its U.S. operations primarily carry out R&D, Sales and Marketing. Most of the manufacturing is in countries with quality, labor, and operational cost advantages, utilizing multiple vendors in Southeast Asia.
"We are pleased about this transaction and look forward to closing in the very near future. With a highly experienced management team of professionals and state of the art technology, we believe that Helix Wind, Inc. has all the tools necessary to continue building a strong renewable energy business attractive to investors," said Helix Chairman & President Scott Weinbrandt. "This transaction is a great example of how we have been able to secure financing on attractive terms even in a challenging capital environment."
About Clearview: Clearview Acquisitions was established to acquire and develop quality projects in the United States and abroad. The focus of the company is to seek out and selectively acquire companies for public markets.
About Helix: Helix Wind is a global renewable energy company. Helix Wind is a paradigm breaking distributed power technology platform for the mass market. Additional information can be found at [ http://www.helixwind.com ].
Safe Harbor Statement: A number of statements contained in this press release are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including the successful consummation of the transaction, insufficient capital to effectuate the business plan of Helix, currency exchange rates, and general economic factors. The actual results Clearview may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Clearview encourages the public to read the information provided here in conjunction with its most recent filings, which may be viewed at [ www.sec.gov ].
