Friday, July 24, 2009

Nordic Turbines Inc. (NDTI.OB) GC Nordic Merger Swiftly Underway

Nordic Turbines Inc. announced that the proposed merger with wind turbine manufacturer GC Nordic is steadily moving ahead as planned. As part of the acquisition announced in May, a second secured loan in the amount of $2,500,000 USD has been sent to GC Nordic, bringing the total secured loan amount to $3.5 million USD. The loans will cover inventory acquisitions further to the completion and delivery of a large turbine order currently under contract.

Upon completion and acceptance by both parties, the proposed definitive agreement will result in a merger between Nordic Turbines and GC Nordic. Subsequently, the shareholders of GC Nordic will become majority shareholders of Nordic Turbines Inc.

GC Nordic is a wind-turbine manufacturing venture under Nordic New Energy Co. Ltd., an affiliate of the prominent multi-division Wuhan Guoce Group. The organization, a well-established manufacturer of hydraulic and electronic systems, offers direct access to a national clientele that represents a large industrial market share in the People’s Republic of China. The company holds a license to manufacture a robust and innovative wind turbine system originally developed in Europe.

Further details regarding agreements with GC Nordic are filed as part of the company’s continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission’s EDGAR database. For more information, please contact investors@nordicturbines.com

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