TORONTO, ONTARIO--(Marketwire - Oct. 16, 2012) - China Wind Power International Corp. (TSX VENTURE:CNW) ("China Wind Power" or the "Company") was issued a temporary cease trade order by the Ontario Securities Commission ("OSC") on October 3, 2012 as the Company has not completed filing of its annual financial statements for the financial year ended March 31, 2012, management discussion and analysis relating to the annual financial statements, interim financial statements for the three months ended June 30, 2012, management discussion and analysis relating to the interim financial statements and related certifications (collectively, the "Required Filings") within the prescribed dates. This temporary cease trade order was replaced with a permanent cease trade order issued by the OSC on October 15, 2012, pursuant to which all trading in the securities of the Company, whether direct or indirect, cease until the Required Filings are complete and such order is revoked by the OSC.
The Company is working diligently to complete the Required Filings as soon as possible.
About China Wind Power International Corp.
China Wind Power International Corp. is an Ontario company that is uniquely positioned to capitalize on the growing demand for wind power in China. The Company indirectly holds the exclusive rights for wind energy development in Du Mon County, Heilongjiang Province, which has a demonstrated potential installed capacity of 1,150 MW of wind energy developable over an area of 612 square km. While 1,150 MW represents the Company's long-term potential for wind power in the area, its current plans are for building out approximately 800 MW over five development phases. The Company's common shares are listed on the TSX Venture Exchange under the symbol "CNW".
Caution Regarding Forward-Looking Statements
Certain statements that are not historical facts made in this press release may be forward-looking statements subject to risks and uncertainties. Statements containing words such as "will", "could", "expect", "may", "anticipate", "believe", "intend", "estimate", "plan" and other similar expressions are forward-looking statements that represent management's beliefs at the time the statements are made and are based on certain factors and assumptions including the resolution of the financial statement matter and the ability of the Company to prepare and file its annual and interim financial statements and respective management's discussion and analysis on a timely basis and the issuance of a cease trade order by the applicable securities regulatory authorities. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events to differ materially from those projected in forward-looking statements. Important factors that could cause actual results to differ materially from the Company's expectations including uncertainties involving the progress of resolving the financial statement matter; the completion of the Company's filing of its annual and interim financial statements and respective management's discussion and analysis, the issuance of a cease trade order by the applicable securities regulatory authorities and other risks and uncertainties as more fully described in the Company's in the information circular dated November 2, 2011, its Management's Discussion and Analysis for the 2011 fiscal year and the three and nine months ended December 31, 2011 and in the Company's other filings with securities regulatory authorities, which are available under the Company's profile at www.sedar.com. Readers are cautioned that the foregoing lists of risks, uncertainties, assumptions and other actors are not exhaustive; therefore, readers should not place undue reliance on the forward-looking statements contained herein. Except as required by applicable securities laws, the Company undertakes no obligation to update any forward looking statement to reflect events or circumstances after the date on which such statement is made.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.