Attached files
Exhibit 99.1
[SKY HARVEST WINDPOWER LOGO]
SKY HARVEST ANNOUNCES $500,000 FINANCING AND
SETTLEMENT WITH FORMER PRESIDENT
April 11, 2011 Symbol: SKYH:OTCBB
VANCOUVER, BRITISH COLUMBIA--Sky Harvest Windpower Corp. OTCBB:SKYH
(the"Company") is pleased to announce that it intends to proceed with a private
placement financing consisting of the sale of up to 2,000,000 shares of its
common stock at a price of $0.25 each for aggregate proceeds of $500,000. The
Company has also agreed to issue 40,000 shares of common stock as a finder's fee
in connection with the financing. Sky Harvest intends to use the proceeds from
the private placement for pre-development costs in connection with its proposed
wind power development projects located in Saskatchewan, Canada, as well as for
general working capital.
SETTLEMENT WITH FORMER PRESIDENT
Sky Harvest further announces that it has completed a settlement with its former
President and C.E.O., Chris Craddock, whereby all parties involved have agreed
to mutually release each other from all claims. In addition to Sky Harvest, its
subsidiary, and Mr. Craddock, the settlement involved two of the Company's
principal shareholders, William Iny and Greg Yanke.
As part of the settlement, Mr. Yanke agreed to discontinue a legal action that
he commenced in British Columbia Supreme Court against Mr. Craddock. Sky Harvest
also agreed to withdraw a British Columbia Small Claims lawsuit against Mr.
Craddock. Mr. Craddock disputed all of the allegations contained in each
lawsuit. The settlement was reached without any admission of liability on the
part of the parties involved.
WEBSITE
Sky Harvest invites shareholders and other interested parties to visit its new
website located at www.skyharvestwind.com or contact Sky Harvest at 604-267-3041
locally or toll-free 1.877.700.7021
SKY HARVEST WINDPOWER CORP.
William Iny, President
Sky Harvest Windpower Corp. is a United States and British Columbia reporting
issuer involved in development stage wind power projects located in southwest
Saskatchewan, Canada. Wind speed and environmental data relating to the
Company's leased properties indicates that the properties host a strong and
consistent wind resource that warrants the erection of wind power generation
facilities with the potential to generate up to 350 MW of electricity. For more
information, please contact Sky Harvest at 604-267-3041.
Safe harbor for Forward-Looking Statements: Except for statements of historical
fact, the information presented herein constitutes forward-looking statements.
Forward-looking statements may include financial and other projections, as well
as statements regarding the Company's future plans, objectives or economic
performance, or the assumptions underlying any of the foregoing. The Company
uses words such as "may", "would", "could", "will", "likely", "expect",
"anticipate", "believe", "intend", "plan", "forecast", "project", "estimate" and
similar expressions to identify forward-looking statements. Any such
forward-looking statements are based on assumptions and analyses made by the
Company in light of its experience and its perception of historical trends,
current conditions and expected future developments, as well as other factors we
believe are appropriate in the circumstances. However, whether actual results
and developments will conform to the Company's expectations and predictions is
subject to a number of risks, assumptions and uncertainties. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
the company to be materially different from those indicated. Forward looking
statements in this press release include the following: that the Company will
complete its proposed $500,000 private placement financing.
Factors which may delay or prevent these forward looking statements from being
realized include that we may not be able to raise sufficient funds to complete
our intended private placement or wind farm business. Readers should refer to
the risk disclosures outlined in the Company's periodic reports filed from time
to time with the United States Securities and Exchange Commission on EDGAR at
www.sec.gov and with the British Columbia Securities Commission at
www.sedar.com