NaiKun Wind Energy Group Inc. Announces $35 Million Private Placement by Cormark Securities by 24hgold

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NaiKun Wind Energy Group Inc.
TSX VENTURE:	NKW

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July 26, 2007
NaiKun Announces $35 Million Private Placement by Cormark Securities
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 26, 2007) - NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES NaiKun Wind Energy Group Inc. ("NaiKun") (TSX VENTURE:NKW) announced today that it has signed an engagement agreement with Cormark Securities Inc. (Cormark) for the sale of 9,000,000 Common and 1,300,000 Flow-Through Shares of NaiKun (the offering) at a price of $3.35 per Common Share and $3.85 per Flow-Through Share on a private placement basis for gross proceeds of $35,155,000. In addition, Cormark will have an option to increase the offering by 1,500,000 Common Shares. The offering will be led by Cormark with participation by Canaccord Adams and Northern Securities Inc. "NaiKun continues to attract significant investor interest, and we are pleased to be associated with some of the leading investment firms in Canada on this offering," said NaiKun Wind Energy Group Chairman and CEO Michael C. Burns, "These resources will provide us the flexibility to increase our financial participation in the projects we are developing, as well as improve our ability to secure critical supply components." NaiKun is proposing a five phase 1,750 megawatt (MW) offshore wind energy project in Hecate Strait between Haida Gwaii (the Queen Charlotte Islands) and Prince Rupert in British Columbia. Construction of the first phase (320 MW) is expected to commence in 2009. The funds will be used to finance the early equity requirements of NaiKun Wind Generating Inc., owner of the physical wind generating plant. NaiKun Wind Generating Inc. is jointly owned by NaiKun Wind Energy Group and ENMAX Corporation. The offering parties will receive a 6 per cent commission on the gross proceeds of the offering. The Offering is subject to the receipt of all necessary approvals including all regulatory and stock exchange approvals. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent from registration or an application exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:

NaiKun Wind Development Inc.
Sara MacIntyre
Director, Public Affairs and Communications
(778) 868-4363
Email: smacintyre@naikun.ca
Website: www.naikun.ca

or

Contact Financial Corp.
Peter Murray
Investor Relations
1-866-689-7422
Email: pete@contactfinancial.com

INDUSTRY: Energy and Utilities - Alternative Energy

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