SOURCE: Nordic Turbines Inc.

Nordic Turbines Inc.

August 05, 2009 12:00 ET

Nordic Turbines Enters Into $10 Million Financing Agreement With GC Nordic

CENTERVILLE, MA--(Marketwire - August 5, 2009) - Nordic Turbines Inc. (OTCBB: NDTI) ("Nordic" or the "Company") wishes to advise that effective July 20th, the Company entered into a financing agreement (the "Agreement") with Wuhan Guoce Nordic New Energy Co. Ltd., a People's Republic of China company ("GC Nordic"), and related parties whereby the Company agreed to lend $10,000,000 USD in order to complete the terms of its agreements with GC Nordic pursuant to its pending merger plans. Nordic Turbines is pleased to announce that the loan payment has been delivered.

In order to guarantee the Company's lending obligations under the Agreement, NewMargin Growth Fund L.P. ("NewMargin"), and a co-investor have agreed to lend the above amount to the Company. Financial advisory and private equity merchant banking firm Clarus Capital Limited further provided an initial loan of $1 million USD and has acted as a strategic advisor in the execution of the current transaction. The combined loan amount across both rounds now totals $11 million USD.

Upon consummation of the merger, the Company, or a wholly-owned subsidiary of the Company, will acquire all of the issued and outstanding shares of GC Nordic via a related party transaction in exchange for fifty four percent (54%) of the Company's issued and outstanding common stock (the "Merger"). Additionally, the $10,000,000 loan made to the Company will be converted into shares of the Company's common stock.

About NewMargin Ventures (

NewMargin Ventures is a leading venture capital management company in China. The company focuses on industry sectors that they believe will offer phenomenal growth opportunities in the coming decades. NewMargin's team consists of seasoned professionals with a combination of deep industry knowledge and strong investment experience. NewMargin is the first venture capital management company in China that manages and advises both domestic and offshore funds.

About GC Nordic

GC Nordic is a wind turbine manufacturing venture of Wuhan Guoce Nordic New Energy Co. Ltd., an affiliate of the highly regarded and successful multi-division Wuhan Guoce Group of Companies. The organization is a well established manufacturer of hydraulic and electronic systems offering direct access to a national client base representing a large industrial market share with extensive vertical penetration opportunities across the People's Republic of China ("PRC"). The company holds a license to manufacture a robust and innovative wind turbine system originally developed in Europe.

Further details regarding the agreements with GC Nordic are filed as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.

Notice Regarding Forward-Looking Statements

This news release may contain "forward-looking statements." Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Nordic Turbines Inc.
- - - - - - - - - - - - - - - - - -
Marcus Laun, Director

Contact Information