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CNW China Wind Power International Corp.

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Share Name Share Symbol Market Type
China Wind Power International Corp. TSXV:CNW TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

China Wind Power Provides Default Status Update

21/09/2012 11:30pm

Marketwired Canada


China Wind Power International Corp. (TSX VENTURE:CNW) ("China Wind Power" or
the "Company") provides this bi-weekly Default Status Report under National
Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP
12-203"). On July 27 and August 1, 2012, the Company announced (the "Default
Announcement") that the filing of its annual financial statements for the
financial year ended March 31, 2012, management discussion and analysis and
related CEO and CFO certifications would not be completed by the filing deadline
set by Canadian securities laws (the "Annual Filings"). 


As a result of the delay in filing, on August 8, 2012, the Ontario Securities
Commission, the principal regulator of the Company, issued a management cease
trade order, which imposed restrictions on all trading in securities of the
Company by the Chief Executive Officer and Chief Financial Officer of the
Company until the Company files the Annual Filings. All other parties are
permitted to trade the Company's securities. 


The filing of the Company's interim financial statements for the three months
ended June 30, 2012, management discussion and analysis and related CEO and CFO
certifications has been delayed beyond the filing deadline of August 29, 2012
(the "Interim Filings" and together with the Annual Filings, the "Required
Filings") as the Annual Filings have not been completed. It is anticipated that
the Audit Committee and an Independent Committee established by the Board of
Directors will complete their review in approximately one week. The Company
continues to work diligently with its Audit Committee and Independent Committee
to resolve the issues set out in the Default Announcement.


Pursuant to the provisions of the Alternative Information Guidelines specified
by NP 12-203, the Company reports that, since the issuance of its Default
Announcement and subsequent Default Status Reports on August 17 and September 7,
2012, except as stated in this Default Status Report, there have not been any
material changes to the information contained therein; nor any failure by the
Company to fulfill its intentions as stated therein with respect to satisfying
the provisions of the alternative information guidelines, and there are no
additional defaults or anticipated defaults subsequent to the disclosure
therein, other than the delay in filing the Required Filings. Further, there are
no additional material changes respecting the Company and its affairs that have
not been generally disclosed.


Until the Required Filings are filed, the Company intends to continue to satisfy
the provisions of the Alternative Information Guidelines specified by NP 12-203
by issuing bi-weekly Default Status Reports in the form of news releases. The
Company intends to file, if required, its next Default Status Report on or about
October 5, 2012. 


About China Wind Power International Corp. 

China Wind Power International Corp. is an Ontario company that is uniquely
positioned to capitalize on the growing demand for wind power in China. The
Company indirectly holds the exclusive rights for wind energy development in Du
Mon County, Heilongjiang Province, which has a demonstrated potential installed
capacity of 1,150 MW of wind energy developable over an area of 612 square km.
While 1,150 MW represents the Company's long-term potential for wind power in
the area, its current plans are for building out approximately 800 MW over five
development phases. The Company's common shares are listed on the TSX Venture
Exchange under the symbol "CNW". 


Caution Regarding Forward-Looking Statements 

Certain statements that are not historical facts made in this press release may
be forward-looking statements subject to risks and uncertainties. Statements
containing words such as "will", "could", "expect", "may", "anticipate",
"believe", "intend", "estimate", "plan" and other similar expressions are
forward-looking statements that represent management's beliefs at the time the
statements are made and are based on certain factors and assumptions including
the resolution of the financial statement matter and the ability of the Company
to prepare and file its annual and interim financial statements and respective
management's discussion and analysis on a timely basis. These forward-looking
statements are subject to a variety of risks and uncertainties and other factors
that could cause actual events to differ materially from those projected in
forward-looking statements. Important factors that could cause actual results to
differ materially from the Company's expectations including uncertainties
involving the progress of resolving the financial statement matter; the
completion of the Company's filing of its annual and interim financial
statements and respective management's discussion and analysis and other risks
and uncertainties as more fully described in the Company's in the information
circular dated November 2, 2011, its Management's Discussion and Analysis for
the 2011 fiscal year and the three and nine months ended December 31, 2011 and
in the Company's other filings with securities regulatory authorities, which are
available under the Company's profile at www.sedar.com. Readers are cautioned
that the foregoing lists of risks, uncertainties, assumptions and other actors
are not exhaustive; therefore, readers should not place undue reliance on the
forward-looking statements contained herein. Except as required by applicable
securities laws, the Company undertakes no obligation to update any forward
looking statement to reflect events or circumstances after the date on which
such statement is made.


1 Year China Wind Power International Corp. Chart

1 Year China Wind Power International Corp. Chart

1 Month China Wind Power International Corp. Chart

1 Month China Wind Power International Corp. Chart