Arizona-based wind developer Nacel Energy repays US$935,000 owed of senior secured convertible note originally entered into with Iroquois Master Fund in November 2009
December 30, 2010
– NACEL Energy Corporation (OTCBB: NCEN) (FRANKFURT: 4FC) (the "Company") today confirmed it has repaid in full the $935,000 amount owed pursuant to the terms of a Senior Secured Convertible Note originally entered into with Iroquois Master Fund Ltd. of New York on November 23, 2009 (subsequently amended on April 23, 2010 and July 27, 2010).
For reference, please see the Company's Form 8-Ks filed November 27, 2009, April 27, 2010 and July 30, 2010.
About NACEL Energy Corporation (OTCBB: NCEN)
NACEL Energy is one of the first publicly traded companies in America exclusively developing clean, renewable, utility scale wind energy. The Company currently anticipates generating an aggregate 130 megawatts of new wind power upon the commissioning of its Snowflake project in Arizona, in addition to Leila Lake, Hedley Pointe, Swisher, Channing Flats and Blue Creek, all located in the Texas Panhandle. NACEL Energy was founded in 2006 and successfully completed its IPO in December of 2007.