NaiKun Wind Energy Group Inc.

NaiKun Wind Energy Group Inc.

March 19, 2007 16:13 ET

NaiKun Announces Closing of $4M Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 19, 2007) - Michael C. Burns, Chairman of NaiKun Wind Energy Group Inc. ("NaiKun") (TSX VENTURE:NKW), announced today that NaiKun has closed a financing for $4,000,000 through the sales of Flow-Through Shares and Units of NaiKun (the "Offering"). The financing was led by Northern Securities Inc. ("Northern").

The $4,000,000 was raised through the sale of 735,295 Flow-Through Shares, purchased at $1.70 per share, and 1,964,284 Units purchased at $1.40 per unit. Each Unit is comprised of one common share and one-half common share purchase warrant ("Warrant"). Each full Warrant will entitle the holder to purchase one common share at a price of $1.80 per common share for a period from the closing date of the Offering until May 30, 2008.

The offering, originally announced as a $3,000,000 firm underwriting with Northern on February 20th, was increased due to overwhelming investor interest and response.

"NaiKun is very pleased with the results of this financing as it indicates strong and growing interest in our company and the green energy sector," said Mr. Burns. "Despite increasing the offering by 33%, we were unable to accommodate all the investors who subscribed for the offering," Burns added.

The funds will be used to finance the continuing development work of the company's NaiKun Wind Development Inc. ("NKWDI") subsidiary, which is leading the engineering, environment and bid planning for the five phase 1,750 megawatt ("MW") project proposed for the waters of Hecate Strait near Haida Gwaii (Queen Charlotte Islands). Ray Castelli, President of NKWDI, commented, "Development work has been accelerated as a result of the recent announcements and supportive policies of the BC and Federal governments." He added that construction of Phase I (320MW) is anticipated to commence on schedule in 2009.

Castelli commented further that, combined with the company's existing resources and funds from the August 2006 financing, NaiKun has adequate funds to move forward with all planned development activities.

NaiKun Wind Energy Group Inc. is a Vancouver-based energy company that has traded on the TSX Venture Exchange (and its predecessors) since 1967. Its stock symbol is NKW. Since 2000, the company has focused on renewable energy and is now concentrating on development of a major wind farm in British Columbia's Hecate Strait. Interested parties are invited to visit the company's website at

Northern Securities Inc. is an independent, integrated investment bank that offers a full range of investment banking services including corporate finance, retail & institutional distribution, equity research, online trading, online public offerings and online private placements. Northern Securities is a wholly owned subsidiary of Northern Financial Corporation, a public company that trades on the Toronto Stock Exchange under the symbol NFC. Its website can be accessed at

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

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