NACEL Energy Corporation invests USD111,687 capital in Crownbutte Wind Power Inc.
M2 EQUITYBITES-June 7, 2011-NACEL Energy Corporation invests USD111,687 capital in Crownbutte Wind Power Inc(C)2011 M2 COMMUNICATIONS http://www.m2.com
Wind power company NACEL Energy Corporation (OTCQB: NCEN) (Pinksheets:NCEN) (Frankfurt:4FC) said on Monday that it has advanced USD111,687 in operating capital through 31 May 2011 to Crownbutte Wind Power Inc (OTCQB: CBWP) (Pinksheets:CBWP).
In addition, NACEL Energy Corporation has invested an additional USD278,000 in debt settlement and restructuring since NACEL acquired its stake in Crownbutte in January 2011.
Crownbutte has used the funds for general operating capital and expenses related to the development of its pipeline of new wind power generation projects.
All capital invested in Crownbutte by NACEL is reportedly convertible into the common stock of Crownbutte.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jun 7, 2011|
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