NaiKun Wind Energy Group Inc.
TSX VENTURE : NKW

NaiKun Wind Energy Group Inc.

August 15, 2007 12:03 ET

NaiKun Completes $35 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 15, 2007) -

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NaiKun Wind Energy Group Inc. (the "Company") (TSX VENTURE:NKW) is pleased to announce that it has closed a $35 million private placement led by Cormark Securities Inc., with the syndicate participation by Canaccord Adams and Northern Securities Inc. (the "underwriters"). The Company sold 7,506,000 Common Shares at a price of $3.35 per share and 2,600,000 Flow-Through Shares at $3.85 per share, for gross proceeds of $35,155,100. The underwriters received a 6 % cash commission.

NaiKun is proposing a five-phase offshore wind energy project in Hecate Strait between Haida Gwaii (the Queen Charlotte Islands) and Prince Rupert in British Columbia. At 1,750 megawatts (MW), the wind farm would have capacity sufficient to power approximately 600,000 homes. Construction of the first phase (320 MW) is expected to commence in 2009.

The shares issued under this financing are subject to a four month hold period under Canadian securities laws and policies of the TSX Venture Exchange.

NaiKun Wind Energy Group Inc. (TSX VENTURE:NKW) is a Vancouver-based energy company that has traded on the TSX Venture Exchange (and its predecessors) since 1967. Since 2000, NaiKun has focused on renewable energy. Interested parties are invited to visit the company's website at www.naikun.ca.

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

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