SOURCE: Dakshidin Corporation

September 24, 2007 09:27 ET

Dakshidin Corporation Secures Initial $300,000 USD Private Placement

LAS VEGAS, NV--(Marketwire - September 24, 2007) - Dakshidin Corporation (PINKSHEETS: DKSC) ( and its wholly owned subsidiary RESTEC International Inc., manufacturers of the world's most powerful water pumping windmill, announced today that it has signed a non-brokered private placement agreement with a group for $300,000 USD.

The placement consists of 1,500,000 common shares of stock at $0.20 with a 1/2 warrant attached. The exercise price of the full warrant is $0.30 for an additional 750,000 shares. Said shares are subject to standard trading restrictions.

Proceeds of this private placement are to be used for product enhancements and new international patents. RESTEC International will increase the marketability of the windmills further by continuing to build up its inventory so as to provide quick delivery.

Nick Laroche, President and CEO, stated, "We must increase our inventory to keep pace with buyers that would like quick delivery of initial orders. These windmills in turn will be used to develop significant orders that will be filled over a reasonable time. Once we have enough windmills out around the world to demonstrate the superiority of our design, we will have a head start on any type of competition."

The RESTEC Windmill is THE renewable, cost-effective and environmentally friendly solution for the world's water crisis.

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Forward-Looking Statements:

The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.

Contact Information

  • For Investor Relations contact:
    David Putnam
    (647) 477-8440