Cleanfield Alternative Energy Inc.
TSX VENTURE : AIR

Cleanfield Alternative Energy Inc.

July 22, 2009 17:28 ET

Cleanfield Completes Non-Brokered Private Placement

ANCASTER, ONTARIO--(Marketwire - July 22, 2009) - Cleanfield Alternative Energy Inc. ("Cleanfield") (TSX VENTURE:AIR) announced today that it completed a non-brokered private placement of $275,000 by issuing a total of 1,447,368 units at $0.19 per unit. Each unit consists of one common share in the capital of Cleanfield and one common share purchase warrant. Each warrant is exercisable into one common share in the capital of Cleanfield at any time on or before the date that is two years after the closing date of the private placement at an exercise price of $0.25 per share. The issued and outstanding shares of Cleanfield after closing are 27,296,911 common shares.

All securities issued in the private placement are subject to a four months hold period expiring on November 23, 2009.

The net proceeds from the private placement will be used for working capital and general corporate purposes.

ABOUT CLEANFIELD ALTERNATIVE ENERGY INC.

Cleanfield Alternative Energy Inc. is the parent company of Cleanfield Energy Corp. and is committed to the development of renewable energy products primarily for the urban environment. Cleanfield's industry leading VAWT, which can be mounted on a tower, on building rooftops or integrated into building designs, offers elegant and quiet point of use renewable green energy generation.

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