Cleanfield Alternative Energy Inc.
TSX VENTURE : AIR

Cleanfield Alternative Energy Inc.

April 25, 2008 15:48 ET

Cleanfield Alternative Energy Announces Prospectus Offering

ANCASTER, ONTARIO--(Marketwire - April 25, 2008) - Cleanfield Alternative Energy Inc. ("Cleanfield") (TSX VENTURE:AIR) is pleased to announce that it has entered into a letter of engagement with Wolverton Securities Ltd. to act as agent, on a commercially reasonable efforts basis, subject to a formal agency agreement, for a prospectus offering.

Cleanfield will offer 2-year 12% Series B secured senior convertible debentures (the "Debentures") under the prospectus offering of minimum gross proceeds of $750,000 and maximum gross proceeds of $1,500,000. The principal amount of the Debentures will be convertible into units of Cleanfield with each unit comprising of one common share and one warrant. Each warrant will entitle the holder to acquire one common share for 24 months from the completion of the prospectus offering. The Company will also offer common shares in the prospectus offering for gross proceeds of up to $500,000. Cleanfield intends to qualify to file, and expects to file, a short form prospectus for the prospectus offering in the next few weeks.

The issuance of the Debentures and the shares is conditional upon all necessary regulatory and stock exchange approvals.

Net proceeds from the prospectus offering will be used by Cleanfield for general working capital purposes.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and "confident" and similar expressions are intended to identify forward-looking statements. The Corporation believes that the expectations reflected in these forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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 for both consumer and commercial applications. Cleanfield's tailor-made VAWT can be mounted on a tower or suitable rooftop, offering electricity independence and security.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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