ARISE Secures Equity Funding.KITCHENER, Ontario -- ARISE Technologies Corporation (TSX-V:APV APV See: Adjusted Present Value ), an emerging leader in the rapidly growing North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. solar energy business, announced today that it has secured an initial round of over $350,000 of funding through several transactions that will require TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. approval. ARISE has raised just over $175,000 of cash under a private placement of common shares at $0.25 per common share. In addition, ARISE has reached agreements with certain creditors to convert just over $175,000 of debt into equity at $0.25 per common share. ARISE is currently in discussions with several parties and expects to close a second tranche before November 27, 2004. Ian MacLellan, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ARISE, stated today "this first tranche will assist ARISE as we start to implement the next step of our business plan and will also help improve our balance sheet. I am very pleased with the impact that the new Corporate Development Team has had with our financing approach and results". ARISE will also release its 2004 Q3 statements and quarterly report before the end of this month. About ARISE ARISE (Appropriate, Renewable, Intelligent, Sustainable, Energy) is dedicated to accelerating the use of solar energy in mainstream North American markets. It has a value added distribution network of over 150 solar energy dealers across Canada. ARISE is also commercializing proprietary solar energy components including a patented thin-film solar cell technology that is being developed in partnership with Komag, Inc. and the University of Toronto Research at the University of Toronto has been responsible for the world's first electronic heart pacemaker, artificial larynx, single-lung transplant, nerve transplant, artificial pancreas, chemical laser, G-suit, the first practical electron microscope, the first cloning of T-cells, . The company's stock and warrants are listed on the TSX Venture Exchange under the symbols APV and APV.WT. Additional information is available at www.sedar.com and www.arisetech.com. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. ARISE Technologies Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:APV) (TSX VENTURE:APV.WT) |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion