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Last updated on April 17, 2014 at 17:30 EDT

Western Wind Selects Rothschild and PI Financial Corp as Independent Advisor

August 10, 2012

TSX.V Symbol: “WND”
OTCQX Symbol: “WNDEF”
Issued and Outstanding: 62,731,056

VANCOUVER, Aug. 10, 2012 /PRNewswire/ – Western Wind Energy Corp. – (Toronto Venture Exchange – “WND”) (OTCQX – “WNDEF”) Western Wind
Energy Corp (the “Company”) is pleased to announce that, following a
thorough selection process by the Independent Committee, the Company
has engaged Rothschild as its lead financial advisor in connection with
the previously announced process to sell the Company and all of its
assets. PI Financial Corp has also been engaged as a co-advisor on the
sale.

Rothschild has extensive experience advising its clients on mergers and
acquisitions throughout the world in a variety of industries, including
the power, utilities and renewables sector. Rothschild will be working
with the Company’s management and Board of Directors to structure and
manage a comprehensive sales process with the goal of maximizing value
for all shareholders. The process, which will begin immediately, will
seek to solicit a broad universe of potential acquirers in North
America and abroad. A data room will be opened shortly for qualified
parties having executed a non-disclosure agreement. Rothschild expects
to formally request non-binding expressions of interest as soon as
possible. Following the receipt of the Expressions of Interest, the
Advisors will allow a small number of selected parties to conduct
further due diligence and enter into detailed discussions with
management with a view to finalizing a definitive binding proposal
regarding the acquisition of the Company and its assets.

The Company will be providing further updates on the sales process as
necessary or appropriate.

Jeff Ciachurski, CEO of Western Wind states; “we are proud to have engaged a firm of the caliber of Rothschild.
Rothschild is a top tier investment bank and is truly independent.  The
firm clearly has the global reach necessary to manage a thorough sales
process. Rothschild and PI Financial Corp will conduct a fair and
independent process with the scope to maximize value.
“ 

ABOUT ROTHSCHILD  

Rothschild is a worldwide financial advisory firm with a 200-year
history.  With over 1,000 bankers based in 40 countries, the firm’s
scale, global reach and local knowledge enable it to develop
relationships and deliver effective solutions to support clients
worldwide.  Rothschild has been active in Canada for over half a
century and has a dedicated team of advisory professionals located in
three offices across the country. Rothschild has approximately 60
senior bankers globally focused on the power, utilities and renewables
sector.

ABOUT PI FINANCIAL

PI Financial Corp. is one of Canada’s largest independent full service
investment dealers, providing a full range of investment products and
services for individual, corporate and institutional investors. PI
Financial Corp. is 75% employee-owned and 25% owned by National Bank
Financial, a subsidiary of National Bank of Canada.

PI Financial Corp. is also a leading Canadian investment bank for small
to mid cap Canadian companies with expertise in the mining, energy,
technology, alternative energy, industrial, transportation and consumer
sectors.

ABOUT WESTERN WIND ENERGY CORP.

Western Wind Energy is a vertically integrated renewable energy
production company that owns and operates wind and solar generation
facilities with 165 net MW of rated capacity in production, in the
States of California and Arizona.  Western Wind further owns
substantial development assets for both solar and wind energy in the
U.S. The Company is headquartered in Vancouver, BC and has branch
offices in Scottsdale, Arizona and Tehachapi, California.  Western Wind
trades on the Toronto Venture Exchange under the symbol “WND”, and in
the United States on the OTCQX under the symbol “WNDEF”.

The Company owns and operates three wind energy generation facilities in
California, and one fully integrated combined wind and solar energy
generation facility in Arizona.  The three operating wind generation
facilities in California are comprised of the 120MW Windstar, the 4.5MW
Windridge facilities in Tehachapi, and the 30MW Mesa wind generation
facility near Palm Springs.  The facility in Arizona is the Company’s
10.5MW Kingman integrated solar and wind facility.  The Company is
further developing wind and solar energy projects in California,
Arizona, and Puerto Rico.

ON BEHALF OF THE BOARD OF DIRECTORS

“SIGNED”

Jeffrey J. Ciachurski
President & Chief Executive Officer

Neither the 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.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

This news release contains certain statements that may be considered
“forward-looking statements, such as references to the intended sale of
Western Wind Energy Corp. and its assets. Forward looking statements
are statements that are not historical facts and are generally, but not
always, identified by the words “expects”, “plans”, “anticipates”,
“believes”, “intends”, “estimates”, “projects”, “potential” and similar
expressions, or that events or conditions “will”, “would”, “may”,
“could” or “should” occur.  The forward-looking statements in this
press release include statements regarding the intention of the Company
to complete the sale of the Company or its assets.  The forward-looking
statements included in this press release are based on reasonable
assumptions, including that the Company will be able to successfully
identify a prospective buyer, negotiate the terms of sale and satisfy
all conditions required to complete the sale. Factors that may cause
results to vary from anticipations include the risk that the proxy
dispute with Sativr may disrupt and impede the sale process, the risk
that the Company may not be able to successfully identify a buyer,
negotiate acceptable terms or obtain all applicable government,
regulatory and shareholder consents required to complete the sale, that
the terms of those consents may not be acceptable to the Company, or,
assuming the Company is able to successfully complete the sale, the
Company is not able to achieve expected results following such sale. 
Although Western Wind Energy Corp. believes the expectations expressed
in the forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those contained in forward looking
statements.  Forward looking statements are based on the beliefs,
estimates and opinions of Western Wind Energy Corp.’s management on the
date the statements are made. Western Wind Energy Corp. undertakes no
obligation to update these forward-looking statements in the event that
management’s beliefs, estimates or opinions, or other factors, should
change, except as required by law.

SOURCE Western Wind Energy


Source: PR Newswire