XZERES Wind Completes Second and Final Closing in Equity Private PlacementXZERES raises additional $585,700 to bring total proceeds up to $5,136,405Wilsonville, OR, March 31, 2011 -- XZERES Wind Corporation (OTCBB: XWND), designer, developer and producer of distributed generation, wind power systems for thesmall wind market (2.5kW-100kW), today announced it completed a second and final closing of its recent equity financing, raising an additional $585,700. Combined with its first closing, announced on March 21, 2011, XZERES raised total gross proceeds in the amount of $5,136,405 in a private placement of 4,891,815 shares ($1.05 per share) to a group of institutional investors and high net worth individuals.In addition, each purchaser of our common stock also received warrants to purchase additional shares in an amount equal to 50% of the number of shares purchased, exercisable at $1.50 per share. The company plans to use these proceeds for sales and marketing, product development to expand its renewable energy product portfolio, and general working capital.According to Frank Greco, Xzeres CEO, "This additional funding further enhancesXzeres' ability to capitalize on the global opportunities that exist in the Small Wind market." "We have experienced strong momentum in the business since acquiring the assets and constructing the necessary Company infrastructure over the past 12 months and this new funding will enable us to continue on that rapid growth path, particularly regarding international opportunities," continued Greco.For more information about XZERES Wind Corp. or any of its products, please visit www.xzeres.comAbout XZERES Wind Corp:XZERES Wind Corp designs, develops, manufactures and markets distributed generation, wind power systems for the small wind (2.5kW-100kW) market. Our grid connected and off grid wind turbine systems, which consist of our 2.5kW and 10kW devices and related equipment, are utilized for electrical power generation for applications and markets such as residential, micro-grid based rural electrification,agricultural, small business, rural electric utility systems, as well as otherprivate, corporate infrastructure and government applications. Our wind power systems are focused on distributed energy, where a specific machine's energy output is largely or entirely used on-site where the equipment is installed, as wellas grid connected applications. While many of our customers take advantage of their local net-metering rules within the United States and Feed In Tariffs that are often available in Europe and Internationally (to sell power back to the grid), our wind power systems are not dependent on transmission needs to carry the energy produced to another location. For more information please see the Company's web site at www.xzeres.comForward Looking Statements and Safe Harbor StatementThe information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation ReformAct of 1995. XZERES Wind Corp claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These "Forward-looking statements" are largely based on our current expectations and projections about futureevents and financial trends affecting the financial condition of our business.Such forward-looking statements include, in particular, projections about our future results included in our Exchange Act reports, statements about our plans, strategies, business prospects, changes and trends in our business and the markets in which we operate. These forward-looking statements may be identified by the
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XZERES Wind Completes Second and Final Closing in Equity Private Placement
XZERES raises additional $585,700 to bring total proceeds up to $5,136,405
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