Helix Wind Closes Round of Financing

SAN DIEGO, April 6 /PRNewswire-FirstCall/ -- Helix Wind, Corp. (OTC Bulletin Board: HLXW), a global renewable energy company, announced today the close of a financing with St. George Investments, LLC, an Illinois limited liability company, in an amount up to $999,500 of funding to the Company.

The terms of the financing transaction consists of the Company issuing a six-month convertible secured promissory note in the aggregate principal amount of $779,500, and a five-year warrant to purchase 2,500,000 shares of the Company's common stock at an exercise price of $0.75 per share. The financing is structured for the Company to receive the funding in five tranches, with the first tranche totaling $599,500 which was delivered to the Company on April 1, 2010.   The terms of the financing provided that so long as no default has occurred and the Company has satisfied certain other conditions, St. George will loan the Company an additional $100,000 on or about each monthly anniversary during the four consecutive calendar months following the closing, for a total of $400,000 in additional financing.  Upon the issuance of each additional note, the Company would also issue St. George an additional five year warrant to purchase up to 250,000 shares of Common Stock with an exercise price of $0.75 per share.

As part of the terms of the financing, Helix Wind is obligated to file a registration statement within sixty (60) days of the closing to register for resale the shares of Common Stock issuable upon conversion of the notes and warrants.  The convertible notes are also subject to certain other events of default and liquidity events which could accelerate the Company's repayment obligations, and/or permit St. George to exercise its rights under a pledge agreement which was also entered into in connection with the financing.  Additional information regarding the financing, and copies of the financing documents, can be found in the Company's Form 8-K filed with the U.S. Securities and Exchange Commission on April 6, 2010.

Scott Weinbrandt, Helix Wind's Chairman, CEO & President, said, "This financing is intended to provide Helix Wind with the funds necessary to execute our fiduciary responsibilities to the company and its shareholders. With this round of financing, we believe we are able to complete and execute on Phase I of our strategic plans, which is to complete the audit, file a 10K and registration statement while taking care of our customer base.  In addition, the filing of a registration statement will allow the company broader access to alternate sources of capital for moving the company forward and raising further capital following the recent changes in management and our Board of Directors."

About Helix: Helix Wind, Corp., a global renewable energy company is engaged in the design, manufacturing and sale of small wind vertical axis turbines designed to generate 300W, 1kW, 2.0kW, and 4.0kW of clean, renewable electricity. Additional information can be found at http://www.helixwind.com.

Forward Looking Statements: 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 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, which may be viewed at www.sec.gov.

SOURCE Helix Wind, Corp.

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