Schneider Power Inc.

Schneider Power Inc.

May 13, 2009 16:00 ET

Schneider Power Announces Closing of First Tranche of Non-Brokered Private Placement

TORONTO, ONTARIO--(Marketwire - May 13, 2009) - Further to its news release dated May 11, 2009 Schneider Power Inc. (TSX VENTURE:SNE) (the "Company") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement (the "Offering") and has issued 5,000,000 units of securities of the Company (each a "Unit" and collectively the "Units") at a price of $0.11 per Unit for gross proceeds of $550,000. Each Unit is comprised of one common share of the Company (each a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.22 for a 24-month period.

Gross proceeds from the Offering are expected to be used to fund a portion of the Grand Valley Wind Farm acquisition (see press release dated May 11, 2009) and for ongoing development of the Company's portfolio of renewable energy projects.

The TSX Venture Exchange has conditionally approved the listing of the Common Shares, which are subject to a hold period until September 13, 2009.

About Schneider Power:

Schneider Power Inc. is one of Canada's premier renewable energy companies, with a portfolio in excess of 1,000 MW clean electricity generation development projects and advanced exploration projects located across two continents, and large land positions on the most promising and prospective wind and solar power areas in North America. Schneider Power is listed on the TSX Venture Exchange under the symbol SNE.

Certain statements included in this news release constitute "forward-looking information" within the meaning of applicable securities legislation. Such forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Schneider Power to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

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

Contact Information