Shear Wind Inc.
TSX VENTURE : SWX

Shear Wind Inc.

January 27, 2012 18:32 ET

Shear Wind Announces Change in Year End and Update on Sale of Willow Ridge Assets

HALIFAX, NOVA SCOTIA--(Marketwire - Jan. 27, 2012) - Further to its December 30, 2011 news release Shear Wind Inc. ("Shear Wind") (TSX VENTURE:SWX) announced today that lender approval for the change in year-end has been received and that Shear Wind's year‐end will change to December 31st from August 31st.

Shear Wind's transition year will be the four month period ending December 31, 2011. The comparative period will be the 12 months ended August 31, 2011. The filing deadline for these financial statements is April 29, 2012. Further details can be found in the notice of change of year-end, which will be filed on SEDAR under Shear Wind's profile.

The new financial year-end will align Shear Wind's year end with that of its major shareholder, Genera Avante Holdings Canada Inc., a subsidiary of Inveravante Inversiones Universales, S.L., an international corporation based in Spain.

Further to its news releases dated September 22, 2011 and December 5, 2011, Shear Wind further announced today that the transaction with UEG-Green Energy Solutions/Alberta Inc. to sell the assets associated with the Willow Ridge wind power project in the Fort MacLeod area of Alberta did not close at this time. Shear Wind has evaluated its options and the renewable electricity market conditions in Alberta and has decided to continue with further development activities associated with the Willow Ridge assets.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Shear Wind in any jurisdiction.

About Shear Wind

Founded in 2005, Shear Wind is headquartered in Halifax, Nova Scotia and is engaged in the exploration and development of renewable wind energy properties in Canada. Shear Wind is focused on building a strong company based on a secure and sustainable supply of clean wind energy. Shear Wind is committed to building shareholder value governed by environmental stewardship. Inveravante Inversiones Universales, S.L., an international corporation based in Spain, indirectly owns 62% of Shear Wind on a fully-diluted basis and 49% of Glen Dhu Wind Energy Limited Partnership through Genera Avante Holdings Canada Inc., following its investment in Shear Wind in November 2009.

Additional information on the various projects may be viewed on Shear Wind's website: www.shearwind.com.

Forward-Looking Statements / Information

This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects, using words including "anticipate", "believe", "could", "expect", "intend", "may", "plan", "potential", "project", "seek", "should", "will", "would" and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. Actual results may differ materially from information contained in the forward-looking information as a result of a number of material factors, including failure to secure adequate financing to develop projects of Shear Wind. Shear Wind undertakes no obligation to publicly update or revise any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.

Shear Wind Inc. trades on the TSX Venture Exchange under the symbol "SWX".

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

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