Helix Wind (OTCBB - HLXW) Announces Share Lock-up Agreements with Key Shareholders

Helix Wind Announces Share Lock-up Agreements with Key Shareholders
Company’s CEO and the Two Largest Shareholders Agree to Share Lock Up


SAN DIEGO--Helix Wind Corp. (OTCBB - HLXW), a global renewable energy company, today announced share lock-up agreements with three of its largest shareholders, including the company’s CEO, totaling 19,651,920 shares. Absent such lock-up agreements, this restricted stock would be tradeable under Rule 144 (subject to volume limitations) on February 11, 2010, except for 7,820,662 shares, which are subject to a separate management lock-up expiring in August 2010.
The lock-up agreements generally prohibit shareholders from directly or indirectly offering to sell, granting an option for the purchase or sale of, or otherwise disposing of the common shares of Helix Wind stock they control. However, provisions in two of the three share lock-up agreements allow for the sale of an aggregate 105,000 shares for each 90-day period starting February 11, 2010, and ending February 10, 2011, and 120,000 shares for each 90-day period starting February 11, 2011, and ending February 10, 2012. These lock-up agreements are subject to several conditions in order for them to become effective, including the successful completion of Helix’s previously announced $5 million capital raise on or before February 10, 2010. Additional details regarding the terms of the lock up agreements and conditions for their effectiveness are available in a Form 8-K filed by the company with the U.S. Securities and Exchange Commission.
In addition, the agreement with Helix’s CEO is subject to a prior management lockup agreement that prevents the sale of any shares until August 10, 2010. Accordingly, an aggregate of 105,000 shares can be sold per each 90-day period during the period commencing August 11, 2010 and ending February 10, 2011 and 120,000 shares per each 90-day period commencing February 11, 2011 and ending February 10, 2012.


Scott Weinbrandt, Helix Wind’s chairman and president, said, “The Board believes the agreements are a testament to the faith these major shareholders have in Helix Wind. By agreeing to lockup the vast majority of their stock, we believe they have underscored their commitment to the company’s long term focus and strategy.”

About Helix: Helix Wind Corp., a global renewable energy company, is engaged in the design, manufacturing and sale of small wind vertical axis turbine designed to generate 300W, 1kW, 2.0kW, 2.5kW, 4.5kW, 10kW and 50kW of clean, renewable electricity. Additional information can be found at http://www.helixwind.com
Safe Harbor Statement: A number of statements contained in this press release are forward-looking statements within the meaning of applicable federal securities laws, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. These forward-looking statements involve a number of risks and uncertainties, including our ability to pay the notes when they mature, attract and retain management and field personnel with experience in the small wind turbine industry, our ability to raise capital when needed and on acceptable terms and conditions, the intensity of competition and general economic factors. The actual results Helix Wind may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Helix Wind encourages the public to read the information provided here in conjunction with its most recent filings, including the Form 8-K, which may be viewed at www.sec.gov.








Green Energy investors can research stocks with the Renewable Energy Stocks Directory, one of the most comprehensive directories online. The directory has close to 900 stocks and new stocks are added each month for investors following the sector. The complete renewable energy stocks directory features stocks listed on the TSX, OTC, NASDAQ, NYSE, AMEX, ASX, AIM markets and other leading exchanges. The directory includes info and links on Alternative Energy Funds, Biogas and Ethanol Stocks, Energy Efficiency Stocks, Flywheel Stocks, Fuel Cell Stocks, Geothermal Stocks, Hydrogen Production, Micro Turbine Stocks, Solar Stocks, Smart Grid Stocks, Green Transportation, Wind Power and Wind Energy Stocks and Green Infrastructure Stocks.
Directory: http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp