~ Blue ~
13 years ago
BIG NEWS OUT ARISE Announces Bridge Loan and Merger LOIs and Amends Bridge Loan and Warrants
Posted by TechNews on October 18, 2011 | Post a comment Print This Article Email This Article
ARISE Technologies Corporation (TSX: APV; Frankfurt: A3T) said it has entered into a non-binding letter of intent (LOI) with Radiant Offshore Fund Ltd for a bridge loan financing in the amount of up to $1.5 million to be disbursed in three tranches with 1st tranche in the amount of $150,000 advanced to ARISE.
ARISE Technologies has also entered into a LOI for a merger between ARISE and an unnamed third party. ARISE and the unnamed third party are currently conducting due diligence to establish the relative values of the entities for the purpose of the proposed business combination.
ARISE Technologies and Haverstock Master Fund, Ltd. have entered into an amending agreement in respect of the share purchase warrants previously issued to Haverstock in May 2011 and July 2011. In consideration for Haverstock agreeing to extend the maturity of its bridge loan from September 30 to November 30 and to subordinate its security position in ARISE’ assets in certain circumstances, ARISE has agreed to reduce the exercise price of the 1,500,000 share purchase warrants issued to Haverstock in 2011 to $0.05. The share purchase warrants originally were exercisable at between $0.21 and $0.10. In addition, the amount due under the Haverstock bridge loan was increased by $25,000.
stocktrader2011
14 years ago
ARISE Technologies Provides Business Update
WATERLOO, ON, Aug. 26 /CNW/ - ARISE Technologies Corporation ("ARISE" or "the Company") (TSX: APV and Frankfurt: A3T), a leader in high-performance, high-quality, cost-effective solar technology, today provided an update on its progress to date in the third quarter of 2010.
Highlights:
- Line Two running at full production volume
- Shipped over 10.8MW of PV cells in the first seven weeks of Q3, up
100% over same period in Q2
- PV cell shipments of 36.7MW year-to-date, a 403% increase over the
same period in 2009
- Systems business currently has 53 active projects
"To this point in the third quarter, we have continued to see increased demand for our products and an ongoing improvement in the PV solar cell market," said Vern Heinrichs, ARISE's President and Chief Executive Officer. "The successful ramp up to full production on Line Two at our German plant marks the successful completion of Phase One of our PV cell manufacturing plan. We continue to add new customers and have begun preliminary planning for the eventual commission of Lines Three and Four."
As ARISE moves into Phase Two of its PV cell manufacturing plan, management has identified three major objectives for the balance of this year:
1) Complete financing for Lines Three and Line Four as soon as
possible, with the objective of commissioning in 2011. ARISE is
currently in discussions regarding a variety of financing options
to expand capacity, including government loans and mezzanine debt.
Provided that funding can be obtained and lines Three and Four
successfully installed and commissioned, the company expects the
added production capacity to lead to economies of scale and lower
production costs.
2) Finalize commercialization plans for proprietary silicon
technology and high efficiency PV cells. The company continues to
work on a strategic partnership for its silicon division and
expects to announce its plans before the end of the third quarter.
ARISE also expects to disclose more detailed plans on its high
efficiency PV cell program before the end of this year.
3) Continue to focus on improving operational performance and expense
management. ARISE is also continuing the integration process with
Sky Solar on its EPC (Engineering, Procurement and Construction)
joint venture and will provide regular updates on its progress.
Board and Management Changes
Effective August 15, 2010, Professor David Johnston resigned from the ARISE Board of Directors to focus on his recently announced role as Canada's governor general-designate. ARISE management wishes to thank Professor Johnston for his significant contribution to ARISE over the four years that he served on the Board and wish him all the best in his prestigious new role.
ARISE also announced today that Ian MacLellan, the company's founder, is returning to the role of Chief Technology Officer. Sjouke Zijlstra will become Senior Vice-President, Advanced Manufacturing and Klaus Goetsch has been appointed Managing Director of the PV cell factory in Bischofswerda.
OttomanRosendahl
15 years ago
ARISE Technologies Issuing 2009 Third-Quarter Financial Results November 11; Conference Call at 8:30 a.m. (ET) November 12
* Press Release
* Source: ARISE Technologies Corporation
* On 9:22 am EST, Friday November 6, 2009
WATERLOO, ON, Nov. 6 /CNW/ - ARISE Technologies Corporation (TSX: APV and Frankfurt: A3T), which is dedicated to becoming a leader in high-performance, high quality, cost-effective solar technology, will release its 2009 third-quarter financial results after 5:00 p.m. (Eastern) on Wednesday, November 11, 2009.
ARISE will hold a conference call for analysts and investors at 8:30 a.m. (Eastern) on November 12. The company will file its 2009 third-quarter financial statements and Management Discussion and Analysis with SEDAR and these documents will be available on ARISE's website prior to the conference call.
Vern Heinrichs, President and Chief Executive Officer, and Dave Chornaby, Chief Financial Officer, will be available to answer questions during the call.
To participate in the call, please dial 416-644-3421 or 1-800-814-4861 (Canada and the U.S. only) at least five minutes prior to the start of the call. A live audio webcast of the conference call will be available at www.newswire.ca and www.arisetech.com.
An archived recording of the call will be available at 416-640-1917 or 1-877-289-8525 (Canada and the U.S. only) (Pass code: 4171959 followed by the number sign) from 10:30 a.m. on November 12, to 11:59 p.m. on November 19, 2009.
About ARISE Technologies
ARISE Technologies Corporation, based in Waterloo, Ontario, is dedicated to becoming a leader in high-performance, cost-effective solar technology. The company operates through three divisions. The PV Cell Division manufactures PV (photovoltaic) cells at its first manufacturing plant opened in April 2008 in Bischofswerda, Germany. The division is developing proprietary technology with a target of achieving a step-by-step progression to a high-efficiency level of greater than 20%. The PV Silicon Division is using a proprietary method to produce silicon at 7N+ high-purity (99.99999% purity) for PV cell applications, based on a simplified chemical vapor deposition process. The division is focusing on scaling up its process to provide ARISE with control over its supply, costs, and quality. The PV Systems Division has been providing PV solutions for solar farms and rooftop installations since 1996 throughout North America. ARISE is planning to expand its systems business in Ontario under the Ontario FIT (Feed-In-Tariff) program.
The company's shares are listed on the Toronto Stock Exchange under the symbol APV and on the Frankfurt Open Market Exchange under the symbol A3T. Additional information is available at www.arisetech.com and www.sedar.com.
For further information
ARISE Technologies Corporation, 65 Northland Road, Waterloo, Ontario, Canada, N2V 1Y8, Dave Chornaby, Chief Financial Officer, (519) 772-5732, Dave.Chornaby@arisetech.com, www.arisetech.com
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