Shear Wind has entered into a Letter of Intent in connection with its proposed acquisition of Vindt Resources Inc. (Vindt).
Vindt is an Alberta based energy resource development and management company with land holdings in Southern Alberta, whose core business is the exploration and development of wind energy resources. A formal agreement will be entered into on January 15, 2007 setting out the terms and conditions of the transaction. It is expected that the Transaction will close on or about January 31, 2007. The proposed Transaction is subject to a number of conditions, including further due diligence, TSX Venture Exchange approval and shareholder approval by Vindt's shareholders. Pursuant to the terms of the Letter of Intent, Shear Wind will acquire 100% of the issued and outstanding securities of Vindt via a three cornered amalgamation between Vindt, Shear Wind, and Shear Wind's wholly owned subsidiary.
