Attached files
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| EX-99.1 - NACEL ENERGY CORP | v198459_ex99-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): October 7,
2010
Commission
File Number: 0-053150
NACEL
ENERGY CORPORATION
(Exact
name of registrant as specified in its charter)
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Wyoming
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20-4315791
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(State
or other jurisdiction of
incorporation
or organization)
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(I.R.S.
Employer
Identification
Number)
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9375
E. Shea Blvd., Suite 100
Scottsdale,
Arizona
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85260
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(Address
of principal executive offices)
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(Zip
Code)
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(602) 235-0355
(Registrant
telephone including area code)
Check the
appropriate item below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
8.01 – Other Events.
In its
Form 8-K filed on March 30, 2010, NACEL Energy Corporation (“NACEL Energy” or
the “Company”) disclosed that it had executed and delivered, pursuant to a
private placement with a single institutional investor, its $300,000 Convertible
Promissory Note (the “Convertible Note”) in exchange for the investor’s
execution and delivery of a $300,000 Secured & Collateralized Promissory
Note (the “Secured Note”) to the Company. As of October 6, 2010, the Company has
now closed and received $300,000 in capital funding, being the amount due under
the Secured Note.
Under
this funding arrangement, further transactions between the Company and the
investor may occur which, if fully funded, could provide the Company with
funding aggregating up to $4.3 million over the next 36 months or so. However,
there are no assurances that any further transactions will occur, or if further
transactions do occur, the number of potential transactions which may occur is
uncertain and dependent on numerous factors including, without limitation, the
Company’s progress in developing its existing wind energy projects, its
financial condition and resources, strength and volatility of stock prices for
the Company’s commons stock and other factors over which the Company has no
control. For further information, please refer to the Company’s Form 8-K
previously filed on March 30, 2010.
A
copy of the press release pertaining to each of the foregoing matters is
attached hereto as an exhibit.
Item 9.01
– Exhibits
(d) Exhibits.
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Exhibit No.
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Description
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99.1
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Press
Release
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, hereunto
duly authorized.
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NACEL
ENERGY CORPORATION
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Date:
October 7, 2010
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By: /s/ Mark Schaftlein
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Mark
Schaftlein, Chief Executive Officer
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