AWSL Responds to Claims and Allegations From Hybridyne Power Systems Canada (HPSC) and Mr. Thomas Cleland on May 20, 2010
May 27 2010 - 4:11PM
Marketwired
Atlantic Wind and Solar Inc. (OTCBB: AWSL) (the Company) reports to
date that neither Atlantic nor any of its officers have been
formally served with any statements of claim from HPSC or Mr.
Thomas Cleland (Cleland).
AWSL states that the allegations against the Company as outlined
in HPSC's press release are without merit.
There is no money owed from AWSL according to the Company. AWSL
denies that any monies are owing to Cleland, HPSC or their related
entities.
To the contrary, AWSL states that the Company is owed money by
Cleland.
Through legal counsel, AWSL has made formal demand from Cleland
for outstanding money owed. Thereafter, HPSC and Cleland appear to
have issued the statements of claim.
If AWSL is ultimately served with the statements of claim,
management will defend them vigorously. Management is confident
that such claims will be dismissed.
In addition, AWSL is considering issuing its own claim against
Cleland, HPSC and New Castle Site "A" to recover those monies owed
by him to AWSL.
About Atlantic Wind & Solar Inc:
Through focused management, strong R&D, state-of-the-art
proprietary technology, exclusive licenses, and joint ventures,
Atlantic Wind & Solar Inc. is poised for rapid growth at the
forefront of the massive global shift towards environmentally
friendly, economical Renewable Energy. The Company is working with
parties in the Real Estate and Property Management sectors in
Ontario and abroad to secure rooftop leases suitable for AWSL's
photovoltaic (PV) renewable energy system.
Sales and Marketing Contacts
Property owners and managers with unobstructed commercial
rooftops of 30,000 s/f or bigger in the Province of Ontario,
Canada, and for which they are interested in possibly leasing to
AWSL, are invited to contact Mr. Charles Mazzacato +1 800 891 1657
ext. 230.
All other Renewable Energy system inquiries are asked to phone
+1 416 900-0380 or email info@atlanticwindandsolar.com
For further corporate information and/or to subscribe for
regular news updates from Atlantic Wind & Solar, please visit:
www.atlanticwindandsolar.com
Disclaimer:
Shareholders and investors are strongly cautioned against
placing undue reliance on information set forth in these
communications in making any investment decisions concerning our
securities. The matters set forth in this press release are
forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially.
These risks are detailed from time to time in the Company's
periodic reports filed with the Securities and Exchange Commission
including the company's Annual Report, Quarterly Reports and other
periodic filings. These forward-looking statements speak only as of
the date hereof. The Company disclaims any intent or obligation to
update these forward-looking statements.
Investor Relations Contact: Geneva Bancorp. Mr. Brent O'Connor
Phone: +1 (416) 900-0380 ext.223 Email: Email Contact
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