China Wind Power International Corp. (TSXV:CNW)
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TORONTO, July 14, 2011 /CNW/ --
TORONTO, July 14, 2011 /CNW/ - China Wind Power International Corp. (TSX-V: CNW) (the "Company"), an independent wind power producer in
China, announced that, on July 12, 2011 (the "Grant Date"), the Company
granted 1,811,300 stock options (the "Options") to directors,
management and its employees, including 430,000 Options granted to
insiders of the Company.
The Options have a five year term commencing from the Grant Date and are
exercisable at a price of $1.00 per share. The Options will vest as
follows:
-- 25% on the Grant Date
-- 25 % on the first anniversary of the Grant Date
-- 25 % on the second anniversary of the Grant Date
-- 25 % on the third anniversary of the Grant Date
The Options are granted pursuant to the Company's stock option plan
which was approved by shareholders at the Company's annual general
meeting of shareholders held on December 2, 2010. The Company's stock
option plan and grant of the Options are subject to the final approval
of the TSX Venture Exchange.
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". The Company has approximately
63.9 million shares outstanding.
For more information and the latest updates on China Wind Power, visit
our investor relations blog at http://chinawindpower.posterous.com or follow us on Twitter at http://twitter.com/ChinaWindPower
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 exercise
price of the Options, wind farm construction and commercial production
schedule, output and capacity, revenue and earnings expectations and
market potential. 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 include
uncertainties involving the availability of financing; fluctuations in
currency exchange rates; uncertainties relating to economic and market
conditions; uncertainty of estimates of capital and operating costs;
the need to obtain additional financing to develop the projects and
uncertainty as to the availability and terms of future financing; the
possibility of delay in construction projects and uncertainty of
meeting anticipated program milestones; uncertainty as to timely
availability of permits and other governmental approvals; and other
risks and uncertainties disclosed in the information circular dated
November 5, 2010, which is available at www.sedar.com under the Company's profile. 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.
Neither 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.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/July2011/14/c5429.html
table cellspacing="0" border="0" tr valign="top" td align="left" Wendell Zhangbr/ Chief Financial Officerbr/ China Wind Power International Corp.br/ Tel: 416-916-4205br/ a href="mailto:wzhang@chinawindpowerinternational.com"wzhang@chinawindpowerinternational.com/a /td td valign="top" align="left" Philip Dalebr/ Investor Relationsbr/ TMX Equicombr/ Tel: 416-815-0700 ext 253br/ a href="mailto:pdale@equicomgroup.com"pdale@equicomgroup.com/a /td /tr /table p /p