HONG KONG, July 20, 2010 (GLOBE NEWSWIRE) -- Welwind Energy International Corp. (OTCBB:WWEI) (the "Company") announces that Mr. Simon Wong, Director of Welwind Energy, has successfully negotiated terms and conditions for financing of the Company's Inner Mongolia project. The financing is for $105 Million Rmb ($15.5 Million USD). Terms and conditions of the financing to be announced, along with the name of the funder, upon closing.
The Company would like to thank Mr. Wong for his success in coordinating the financing for the Company and his efforts in marketing Welwind Energy within the Hong Kong financial community. Mr. Wong continues to work on Welwind's behalf on many aspects of finance, along with mergers and acquisitions.
In order to further the company's finance and expansion efforts, Welwind has opened an Office in Hong Kong, to be headed by Mr. Wong. "Hong Kong has been ranked # 1 globally in 2009 for IPO fundraising -- US$31.3 billion, and # 4 globally in terms of total funds raised, including post-IPOs, of US$81.4 billion. Opening an office in Hong Kong will allow Welwind to have access to these Asian investors," said Larry McNabb, President of Welwind Energy. Adds McNabb, "With a large demand by Asian Investors wanting to invest in Welwind Energy, Welwind's Hong Kong office will begin exploring the option of a dual listing on the Hong Kong Stock Exchange. Companies are attracted to listing on the Hong Kong Exchange to benefit from the market's liquidity, attractive valuations and access to investors in Asia."
ABOUT WELWIND
Welwind Energy International Corp. is committed to providing the best resource option available for renewable energy, protecting our environment, empowering communities, bolstering local economies and respecting the rights of future generations. Welwind Energy International was founded to build, own and operate wind farms on an international scale. The company's goal is to become a leading provider of clean energy products for the residential, business and governmental consumer.
The Welwind Energy International Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3727
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, risks set forth in documents filed by the company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany this news release.