Seakinetics Corporation

Seakinetics Corporation

November 23, 2009 03:00 ET

Seakinetics Corporation Moves a Step Closer in Acquiring Land Parcel for Massive Wind Project in India

TORONTO, ONTARIO--(Marketwire - Nov. 23, 2009) - Seakinetics Corporation announced that as a result of the successes achieved by Jack Dhaliwal, Chief Technology and Operating Officer, the Company has moved a step closer in acquiring the strategic land parcel in the Tamil Nadu region of India and its USD$193 billion wind energy market.

During his recent visit to India, Mr. Dhaliwal has confirmed that the engineering studies developed over the past two years clearly identified our choice of land in the Tamil Nadu region as a prime location in India for wind energy farm development. Mr. Dhaliwal met with government officials at all levels as well as land owner brokers in this region. Mr. Dhaliwal reports that he has been given assurances that the Company will receive full governmental support as it implements its plan to create the first of several wind energy farms capable of generating 300MW of power in this strategic region by the 4th Quarter of 2012.

In its efforts to assist private enterprises, such as Seakinetics, in addressing India's urgent demand for energy, the Indian government has committed USD $500 billion in infrastructure improvements.

"The Indian Government has already created the local state electricity grids which are capable of capturing the energy created by wind energy farms in the Tamil Nadu region. As a result, revenues can be immediately generated upon completion of our first wind energy farm. While we appreciate the magnitude of the challenge ahead of us, I am confident that we will meet our most important milestone of generating revenues by the 4th quarter of 2012." stated Jack Dhaliwal.

Seakinetics is in the business of designing, developing, marketing and investing in innovative technologies and services in the renewable energy field. Seakinetics' mission is to be an industry leader in finding solutions for renewable energy today and tomorrow.

This release may include projections of future results and "forward-looking statements" as that term is defined in Section 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"). All statements that are included in this release, other than statements of historical fact, are forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable; it can give no assurances that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from those disclosed in this release, including, without limitation, in conjunction with those forward-looking statements contained in this release.

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