SEA BREEZE CLOSES US $100,000 CONVERTIBLE DEBENTURE
Tuesday, 22 December 2009
Sea Breeze Power Corp. is pleased to announce that, further to its news release of November 25, 2009, it has closed a convertible debenture for the amount of US $100,000. The debenture has a two-year term and is convertible into shares of the Company at $0.20 per share during the term.
Each converted share entitles the debenture holder to one share purchase warrant, which will expire two years from the November 25th announcement. The warrants issuable from the debentures will have an exercise price of $0.20 per share during the debenture term. Interest on the debenture will be calculated at 12% per annum. The interest payments are payable in shares valued at the market price prevailing on semi-annual calculation dates. The convertible debenture has a hold period expiring March 25, 2009.
Sea Breeze Power Corp. is a Vancouver-based renewable energy company focused on unlocking British Columbia’s enormous but ‘stranded’ renewable energy potential. Sea Breeze is presently engaged in the development of utility-scale wind farms, ‘run-of-river’ hydroelectric projects, and through a joint venture partnership, the development of state-of-the-art electricity transmission projects.
ON BEHALF OF THE BOARD OF DIRECTORS
“PAUL B. MANSON”
_________________________ PAUL B. MANSON, President & CEO
For investor information please contact Mr. Paul B. Manson. Email: PaulManson@SeaBreezePower.com Voice: 604-689-2991 Toll Free: 1-866-387-1240
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.
