Catch the Wind Ltd.
TSX VENTURE : CTW.S

Catch the Wind Ltd.

April 28, 2009 06:58 ET

Catch The Wind Ltd. Announces a Private Placement Financing for a Minimum of CDN $15.0 Million

MANASSAS, VIRGINIA--(Marketwire - April 28, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Catch the Wind Ltd. (TSX VENTURE:CTW.S) announced today that it has entered into an agreement with a syndicate of agents led by National Bank Financial Inc., and including Research Capital Corp. and Canaccord Capital Inc. to sell a minimum of CDN $15 million in common shares of the Company (the "Common Shares"). The Common Shares will be offered via private placement on an agency basis at a price of CDN $1.30 (the "Offering Price").

Pursuant to applicable Canadian securities laws, the Common Shares will be subject to a four-month hold period from the time of closing of the Offering.

The Offering, which is subject to all necessary regulatory approvals, is expected to close on or about May 20, 2009, or such other date as the Agents and the Company may agree upon.

The net proceeds of the Offering will be used to further develop the efficient manufacture of the Company's Vindicator® Laser Wind Sensor and other laser based wind sensors. The net proceeds will also be used for general working capital purposes.

The Agents will receive a commission of 6.0% of the gross proceeds raised in the private placement in cash. The Agents will also receive compensation options (the "Compensation Options") equal to 6.0% of that number of Common Shares issued in connection with the private placement. Each Compensation Option will entitle the Agents to purchase one Common Share of the Company at the Offering Price for a period of 24 months following the Closing Date.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.

The securities offered have not been registered under the United States Securities Act of 1933, as amended (the "Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities will be offered and sold outside the United States to eligible investors pursuant to Regulation S promulgated under the Act and may not be resold in the United States or to U.S. persons unless registered under the Act or pursuant to an exemption from registration under the Act.

About Catch the Wind Ltd.

Catch the Wind Ltd. is a high-growth technology company headquartered in Manassas, Virginia. The company was founded in 2008 to develop and manufacture the indicator® laser wind sensor and other laser sensor products. Catch the Wind serves the commercial market sector for laser based wind sensor systems, recognized as the "gold standard" in wind measurement. The company is focused on becoming a major contributor in making clean, renewable wind energy more affordable and profitable. For more information, visit www.catchthewindinc.com.

Forward-Looking Information

This news release includes certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking statements. Forward looking statements in this news release, include, but are not limited to, economic performance and future plans and objectives of Catch the Wind. Any number of important factors could cause actual results to differ materially from these forward looking statements as well as future results. Although Catch the Wind believes that the assumptions and factors used in making the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. Catch the Wind disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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.

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