Leader Wind Corp. Wins Largest Wind Power Project In Canada.TORONTO -- LEADER CAPITAL CORP. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:LDR See photocell. ) announces that its subsidiary, Leader Wind Corp., and Enbridge Inc. have been successfully awarded two renewable energy projects by the Ontario Government's Renewable Energy Supply RFP (Request For Proposal) A document that invites a vendor to submit a bid for hardware, software and/or services. It may provide a general or very detailed specification of the system. 1. (business) RFP - Request for Proposal. 2. . The awarded energy projects comprise an agreement to purchase a total of 200 megawatts of wind power from Leader Wind. The Leader Wind development is located on the shore of Lake Huron between the Ontario cities of Kincardine and Port Elgin. The development was undertaken with the support and cooperation of the municipalities and residents of both these communities. As stated in our press release dated August 22, 2005, Leader Capital Corp. entered into a share purchase agreement with Enbridge Inc. for the shares of Leader Wind Corp. through which Enbridge provided strategic financial support to Leader Wind in its project bids. Enbridge is an industry leader in energy transportation and distribution in North America and internationally. As a result of the two awards, Enbridge is acquiring a 100% interest in Leader Wind Corp., and will thereupon there·up·on adv. 1. Concerning that matter; upon that. 2. Directly following that; forthwith. 3. In consequence of that; therefore. assume responsibility for project construction. Leader Capital and its team will continue to provide assistance and support to Enbridge on this project. Construction of this wind farm is expected to commence in April, 2006. When completed, the Leader Wind Projects will be the largest wind power project constructed to date in Canada. Total consideration for the transaction is approximately CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $17.2 Million. This consideration is comprised of a cash payment for development costs with the balance of proceeds payable in free trading Enbridge common shares. Approximately 50% of the consideration has been paid. The balance shall be paid over 2 milestones, at approximately 12 months and 60 months. "We are extremely pleased with being awarded this wind power contract. Leader Wind is committed to assist the Government of Ontario The Government of Ontario refers to the provincial government of the province of Ontario. Its powers and structure are set out in the Constitution Act, 1867. In modern Canadian use, the term "government" refers broadly to the cabinet of the day, elected from the Legislative meet its sustainable and renewable power generation needs. Leader Capital will continue to explore opportunities to develop sites for safe and sustainable power to Canadians" said Magaly Bianchini, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Leader Capital. "Our decision to work with Enbridge in bidding this project has proven successful and we look forward to discussing other opportunities with them in the future." Leader Capital is in the process of acquiring land leases for future wind power developments. Leader Capital maintains real estate holdings in Gatineau, Quebec and St. Catharines, Ontario St. Catharines (2006 population 131,989; metropolitan population 390,317) is the largest city in the Niagara Region and the sixth largest urban area in Ontario, Canada, with 97.11 square kilometres (37.5 sq mi) of land. and owns natural gas leases in South-Western Ontario. LEADER CAPITAL CORP. (Signed) Magaly Bianchini, President Issued & Outstanding Common Shares: 14,560,918 THE TSX VENTURE EXCHANGE TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. OR ANY SECURITIES REGULATORY AUTHORITY HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE THAT HAS BEEN PREPARED BY MANAGEMENT. Leader Capital Corp. (TSX VENTURE:LDR) |
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