May 26, 2010 (FinancialWire) — Helix Wind, Corp. (OTCBB: HLXW), a renewable energy company, said it has received a third tranche, totaling $100,000, in a continuation of financing from St. George Investments, LLC.

As reported on April 6, 2010, the company secured financing from St. George Investments, LLC amounting to a total of $599,500 in funding with the potential to execute four additional Convertible Secured Promissory Notes.

The third tranche was received by the company on May 19. The remaining two additional notes with St. George are now scheduled to be executed over the next 60 days.

After completing Phase I of the companies operational plan, Helix said it is currently in negotiations with its funding partner to secure up to $1,000,000 of financing for Phase II which will provide the capital needed for additional production requirements to meet potential opportunities for purchase orders being negotiated with customers and distributors. In addition, this capital will fund the next round of research and development.

Scott Weinbrandt, Helix Wind's Chairman, CEO & President said, "We are pleased to have executed the Third Note which was part of the financing transaction with St. George Investments. This funding continues to provide sufficient capital to complete the initial Phase of our plan which included the audit, filing its Form 10K, its first quarter Form 10Q, and completing and filing the S-1 registration statement, while taking care of our customer base.  We are confident from our discussions that we will close up to an additional $1,000,000 of financing in the near future with our funding partner to handle Phase II of the Company's plan. This will allow Helix to pursue the numerous growth opportunities which have been identified."

California-based Helix Wind, Corp., a global renewable energy company is engaged in the design, manufacturing and sales of small wind vertical axis turbines designed to generate 300W, 1kW, 2.0kW, and 4.5kW of clean, renewable electricity. Additional information can be found at http://www.helixwind.com/.

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