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| 8-K - NACEL ENERGY CORP | v198459_8k.htm |
EXHIBIT
99.1
FOR
IMMEDIATE RELEASE
NACEL
ENERGY UPDATES CORPORATE FINANCING
PHOENIX, AZ – Thursday, October 7, 2010 – NACEL Energy Corporation (OTC BB:
“NCEN”) (FRANKFURT: “4FC”) (the “Company”) today confirmed it has now closed and
received $300,000 in capital funding, being the amount due under a $300,000 Secured &
Collateralized Promissory Note executed earlier this year with JMJ Financial.
This Note is one of a series of similarly structured Notes which, if all are
closed and fully funded as contemplated over the next 36 months, will
provide NACEL with an aggregate $4.3
million in capital funding.
NACEL Energy Chief Executive Officer,
Mark Schaftlein, stated:
“NACEL continues to invest in our core
wind power business. In addition to funding our six existing projects
in Texas and Arizona, the
Company also intends to pursue opportunities in other States, with the longer
term goal of securing a larger portfolio of wind
energy assets than the
Company possesses today, with enhanced geographic and power market
diversity.”
Under the terms of NACEL’s
funding arrangement with JMJ Financial future transactions are not a certainty,
but are dependent upon events, including, without limitation, the Company’s
progress in developing its wind energy projects, its financial condition and
other business factors.
For further information, please refer to
the Company’s Form 8-K previously filed on March 30,
2010 and the accompanying news release issued the same day.
About NACEL Energy Corporation (OTC
BB: NCEN)
NACEL
Energy is one of the first publicly traded companies in America exclusively developing clean,
renewable, utility scale wind power. The Company currently
anticipates generating an aggregate 130 megawatts of new wind
power upon the commissioning of its Snowflake project in Arizona, in
addition to Leila Lake, Hedley Pointe, Swisher, Channing Flats and Blue Creek,
all located in the Texas Panhandle. NACEL Energy was founded in 2006 and
successfully completed its IPO in December of 2007.
Read all
NACEL Energy’s past news releases at http://www.nacelenergy.com/news/archive.html
NACEL
Energy
The WIND POWER COMPANYTM
Notice
regarding Forward-Looking Statements
Statements
in this press release relating to NACEL Energy’s plans, strategies, economic
performance and trends, projections of results of specific activities, and other
statements that are not descriptions or historical facts may be forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking information is subject to risks
and uncertainties, and actual results could differ materially from those
currently anticipated due to a number of factors, which include, but are not
limited to, risk factors inherent in NACEL Energy’s business. Forward-looking
statements may be identified by words such as “should,” ”may,” “will,”
“anticipate,” “expect,” “estimate,” “intend” or “continue,” or comparable words
or phrases. This press release cautions that that there are no assurances that
NACEL Energy will complete further funding transactions, or, if further funding
transactions do occur, the number of potential transactions is uncertain and
dependent on a number of factors as noted in its Form 8-K filed on March 30, 2010.
In addition, NACEL Energy cautions that it must undertake and complete
many steps in the development model before the generation of wind energy can
commence. Among the numerous items which have to be completed in this regard
include, without limitation, obtaining pertinent agreements and permits,
construction of project facilities, satisfying financial requirements and other
burdens. Interested persons are encouraged to read the SEC reports of NACEL
Energy, particularly its Annual Report on Form 10-K for the fiscal year ended
March 31, 2010 and its Quarterly Report on Form 10-Q for the quarter ended June
30, 2010, for meaningful cautionary language disclosing why actual results may
vary materially from those anticipated by management.
Contact:
NACEL
Energy Investor Relations
1-888-242-5848