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Schneider Power Inc.: Schneider Power Announces Extension of Private Placement Financing

^{Published on 2009-05-25 14:41:50, Last Modified on 2009-05-25 14:42:26 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - May 25, 2009) - Schneider Power Inc. (the "Company") (TSX VENTURE:SNE), announces that it has extended the timeframe for closing its non-brokered private placement of up to 10,000,000 units at a price of $0.11 per unit, up to 3,928,571 "flow-through" shares at a price of $0.14 per share, or a combination of units and flow-through shares for gross proceeds of up to $1,100,000. For more information concerning the private placement, please see the Company's news releases dated May 11, 2009 and May 13, 2009. The offering remains subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals.

About Schneider Power:

Schneider Power Inc. is one of Canada's premier renewable energy companies, with a portfolio in excess of 1,000 MW of clean electricity generation development projects and advanced exploration projects located across two continents, and large land positions on promising prospective wind and solar power areas in North America.

Schneider Power is listed on the TSX Venture Exchange under the symbol SNE.

Certain statements included in this news release constitute "forward-looking information" within the meaning of applicable securities legislation. Such forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Schneider Power to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.