Alternative Energy Partners Secures $30M Equity Line of Credit

Alternative Energy Partners entered into a Securities Purchase Agreement with Ambrose & Keith Fund, Inc. for the purchase of up to $30,000,000 in common stock over a 24-month period. The initial draw is conditioned on the filing and effectiveness of an S-1 registration statement.

“On October 1, 2010, the Company entered into a Securities Purchase Agreement with Ambrose & Keith Fund, Inc., based in Boca Raton, Florida, for the purchase of $30,000,000 in common stock of the Company over a 24 month period in periodic draws of not less than $10,000 and not more than $500,000, based on a price per share equal to 85 percent of the 5 day lowest daily volume weighted price of the stock on the OTC Bulletin.”

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