AAER Inc.
TSX VENTURE : AAE

AAER Inc.

April 23, 2010 17:14 ET

AAER Not to File its Financial Statements

BROMONT, QUEBEC--(Marketwire - April 23, 2010) - AAER Inc. (TSX VENTURE:AAE) announced today that it will not file its year end financial statements for the 12-month period ended December 31, 2009, which are due on April 30, 2010. AAER also announced that it does not currently intend to file its interim financial statements during the pendency of its proceedings under the Companies' Creditors Arrangement Act (Canada).

Relevant information and documentation relating to the restructuring of the Company, including financial information are available through Samson Bélair / Deloitte & Touche Inc. the court-appointed Monitor, at the following website: www.deloitte.com/ca/aaer.

About AAER Inc.

AAER is a wind turbine manufacturer located in Bromont, Quebec that manufactures and maintains high capacity 1 MW or more wind turbines principally for the North American market. Its strategy is to progressively build its products' components to provide a high level of reliability and competitive pricing to its customers. AAER uses a portfolio of proven European technologies to ensure the performance of its turbines in various wind conditions and terrains. Its stock is listed on the TSX Venture Exchange (TSX VENTURE:AAE). Additional information is available on AAER's website at www.aaer.ca.

Forward-Looking Statements

This news release contains certain forward-looking statements or forward looking-information. These forward looking statements are subject to a variety of risks and uncertainties beyond AAER's ability to control or predict which could cause actual events or results to differ materially from those anticipated in such forward looking statements. Such risks and uncertainties are disclosed under the heading "Risk Factors" in AAER's amended and restated preliminary prospectus dated February 25, 2010 and the annual information form for the year ended December 31, 2008 and dated March 26, 2009. Further, forward-looking information is in addition based on various assumptions, including, without limitation, assumptions about: (i) general business and economic conditions; (ii) selection of AAER's client bids in different requests for proposals; (iii) the availability of financing on reasonable terms; (iv) the availability of key components for the assembly of wind turbines, (v) the costs of raw materials and parts; (vi) AAER's ability to attract and retain skilled staff; (vii) market competition; (viii) the technology offered by AAER's competitors; (ix) AAER's ability to meet contractual obligations and delivery dates; and (x) AAER's ongoing relations with employees and with clients. Should one or more of these risks and uncertainties materialize, or should the underlying assumption prove incorrect or different, actual results may vary materially from those described in the forward-looking statements. All forward looking statements speak only as of the date of this news release. Accordingly, readers should not place undue reliance on forward-looking statements.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Contact Information

  • AAER Inc.
    Dave Gagnon, President
    450-534-5155
    www.aaer.ca
    or
    AAER Inc.
    Eric Phaneuf, Chief Financial Officer
    450-534-5155
    e.phaneuf@aaer.ca