Western Wind Energy Corp. - Further Update to Brookfield Bid

         Western Wind Energy Corp. - Further Update to Brookfield Bid

  PR Newswire

  VANCOUVER, January 24, 2013

VANCOUVER, January 24, 2013 /PRNewswire/ --



TSX.V Symbol: " WND" OTCQX Symbol: "WNDEF" Issued and Outstanding: 70,475,306

Western Wind Energy Corp. - (the "Company" or "Western Wind") (TSX Venture
Exchange - "WND") (OTCQX - "WNDEF") wishes to advise of the following
disclosures with Brookfield.

On Thursday, January 17, 2013, Western Wind received a call from Rothschild,
our financial advisor, stating that their Chairman received a call from a very
senior official at Brookfield, requesting a meeting in Toronto as soon as
possible, to discuss a revised increase in their bid.

A meeting was held in Toronto on the morning of Saturday, January 19, 2013
with the CFO of Western Wind, Rothschild and four (4) members of Brookfield.
In that six hour meeting, Brookfield requested, and was given, a very detailed
and forensic look at the Yabucoa Project and several other key financial
matters. Western Wind delivered the essential financial details in the same
manner as it would, for our lenders.

Following this disclosure, various ideas were discussed by both parties, on
how to increase the value of the existing $2.50 bid by Brookfield.
Suggestions made by all parties included: increasing the bid as an all cash
bid; increasing the bid in two (2) components comprising of $2.75 cash plus
spinning out our Kingman wind and solar production facility and our Arizona
development assets into a separate Spinco; and lastly, an increased cash bid
with a series of contingency payments to pay additional payments to Western
Wind shareholders, based on completion of certain milestones going forward.

After the conclusion of the meeting, Brookfield said that they would have a
proposal delivered to Western Wind by the end of Sunday night, as this was a
condition for Western Wind attending to their offices and giving up very
detailed forensic information on Yabucoa. It was also very important to get
this new information into the revised Supplementary Directors' Circular, which
was scheduled to be released on Monday, January 21, 2013.

On Sunday night, an email was sent by Brookfield indicating that they would
not have anything by the evening of Sunday.

On Monday, January 21 ^st , Western Wind issued its "no recommendation"
circular. Another email was sent from Brookfield stating that they would not
have anything ready by 2pm West Coast time on Monday, which was past the
printing and mailout deadline of our Circular.

On January 22, 2013, an email was received stating that Brookfield was
proposing $2.50 cash plus the 42 MW DC Yabucoa Project to be spun out into a
new public company and had requested that we prepare a Heads of Agreement and
an Exclusivity Agreement. Western Wind management and its Special Committee
began preparing the documentation regarding some of the proposals presented by
Brookfield.

Due to the fact that Brookfield is a significant insider to the Company, and
has had access to the Company's very detailed financial information that
neither the public nor any other party has, it was clearly a material
obligation by the Board of Western Wind, to release this update by way of a
News Release, and to change the "No Recommendation" to a "Rejection" because
of the impending new arrangements, which in any outcome, would be higher than
$2.50.

The CEO of Western Wind was not part of and did not attended the meetings in
Toronto or any subsequent discussions with Brookfield. The Independent
Committee elected to send it's CFO to work with Brookfield and Rothschild.

On January 23, 2013, we received a letter from Brookfield stating that
"Brookfield would issue its January 24 ^th news release if Mr. Ciachurski
continued to be involved in the process and that if we, as a Board, rejected
the current outstanding $2.50 cash bid from Brookfield."

These two requests by Brookfield were moot. Firstly, Mr. Ciachurski was not
involved in any of the meetings with Brookfield nor did Mr. Ciachurski speak
with any of the members from Brookfield, either as a whole or individually
during this process from the 17th. Mr. Ciachurski is also excluded from any
of the Independent Committee meetings. Secondly, since Brookfield, as a major
insider, is proposing a bid greater than $2.50, the Board of Western Wind has
a statutory obligation to reject the preexisting $2.50 bid. That is a
fundamental obligation to keep it's shareholders informed.

At no time, was there ever a discussion with Mr. Ciachurski or any member of
Western Wind with Brookfield, regarding a bonus to meet or not meet a $3.00
threshold. The bonus that Brookfield refers to, was in force for at least
four years and predates by three years, the published DAI valuation that was
sent to the TSX valuing the Company at $5.60 per share.

Mr. Ciachurski issued a "blackout trading order" to all officers and
directors, well in advance of the first indicative bid.Any sales after that
date were for tax sales, required for compliance with the tax laws in both the
US and Canada.

Western Wind has been proceeding with the sales process as efficiently as
possible, given the difficulties of having a significant insider making a
hostile bid for the Company. Regardless of Brookfield's refusal, as an
insider, to have a valuation performed, which keeps the process fair, Western
Wind staff and the Independent Committee have been working diligently to
accommodate the requests by Brookfield, of a revised offer. This offer been
stated by Brookfield's CEO, several times.

Brookfield continues to mischaracterize, discredit and interfere with Western
Wind's sincere attempt to sell the Company. The Western Wind Board only wants
the best value for its shareholders, and Brookfield has shown that they are
only interested in doing what's best for Brookfield. From the start, they
have ignored the process and have shown nothing but contempt for our
shareholders. We are hopeful that our shareholders will see through their
ruse, and reject their strategies.

ABOUT WESTERN WIND ENERGY CORP.

Western Wind 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 TSX 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"

Michael Boyd Chairman

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

Certain statements contained in this news release may constitute
forward-looking information under applicable Canadian securities legislation.
These statements relate to future events and are prospective in nature. All
statements other than statements of historical fact may constitute
forward-looking statements or contain forward-looking information.
Forward-looking statements are often, but not always, identified by the use of
words such as "may", "will", "project", "predict", "potential", "plan",
"continue", "estimate", "expect", "targeting", "intend", "could", "might",
"seek", "anticipate", "should", "believe" or variations thereof.
Forward-looking information may relate to management's future outlook and
anticipated events or results and may include statements or information
regarding the future plans or prospects of the Company.

Forward-looking information is based on certain factors and assumptions
regarding, among other things, the Company's negotiations with prospective
purchasers and the results of due diligence investigations conducted by
prospective purchasers, the Company's ability to successfully negotiate
non-disclosure agreements with interested parties, the availability of a
financially superior offer, the Company's future growth, results of
operations, performance, business prospects and opportunities as well as the
economic environment in which it operates. Several factors could cause actual
results to differ materially from those expressed in the forward-looking
statements, including, but not limited to: actions taken by the Offeror or
Brookfield Renewable, actions taken by the Western Wind Shareholders in
relation to the Offer, the possible effect of the Offer on the Company's
business, the outcome of the Company's previously-announced sale process, the
ability of the Company to successfully negotiate non-disclosure agreements
with interested parties, and the availability of value-maximizing alternatives
relative to the Offer. Additional risks and uncertainties can be found in the
Company's MD&A for the year ended December 31, 2011 and the Company's other
continuous disclosure filings which are available at http://www.sedar.com .

Forward-looking statements and forward-looking information involve known and
unknown risks, uncertainties and other factors that may cause actual results
or events to differ materially from those anticipated. Forward-looking
information is subject to a variety of known and unknown risks, uncertainties
and other factors that could cause actual events or results to differ from
those reflected in the forward-looking statements including, without
limitation: the progress of Western Wind's sales process, whether the Company
is able to successfully negotiate the terms of non-disclosure agreements with
interested parties, the results of due diligence investigations conducted by
interested parties, and, assuming the Company receives an expression of
interest, whether a financially superior offer for Western Wind emerges,
whether the Company is able to successfully negotiate a prospective sales
transaction and whether the conditions of any proposed transaction, including
receipt by the Company of all necessary approvals, are met.

The Board of Directors believes that the expectations reflected in the
forward-looking statements contained in this news release are reasonable, but
no assurance can be given that they will prove to be correct. Actual results
and future events may differ materially from those anticipated and accordingly
forward-looking statements should not be unduly relied upon. Forward-looking
statements contained in this document speak only as of the date of this news
release. Except as required by applicable law, Western Wind disclaims any
obligation to update any forward-looking information.

SOURCE: Western Wind Energy

For further information: Investor Relations Contact: Lawrence  Casse
AlphaEdge Tel: +1(416)992-7227 Email: alphaedgeinc@gmail.com
 
Press spacebar to pause and continue. Press esc to stop.