hier nochmal leserlicher...ARISE Technologies Corporation Announces $46.2 Million Bought Deal Treasury and Secondary Common Share Offering
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO U.S.
NEWS WIRE SERVICES/
TSX: APV, ADAX: A3T
WATERLOO, ON, May 5 /CNW/ - ARISE Technologies Corporation ("ARISE" or
the "Company") (TSX: APV and Frankfurt: A3T), which is dedicated to becoming a
leader in high-performance, cost-effective solar technology, is pleased to
announce that today it and a company controlled by Ian MacLellan, the
Company's founder and Chief Technology Officer (the "Selling Shareholder")
have entered into an agreement whereby a syndicate of underwriters led by
Canaccord Adams and Clarus Securities Inc., (the "Underwriters") will purchase
on a bought deal basis, 20,500,000 common shares (the "Common Shares") from
the Company and 500,000 from the Selling Shareholder at a price of $2.20 per
Common Share (the "Offer Price") for gross proceeds to ARISE of $45,100,000
and gross proceeds to the Selling Shareholder of $1,100,000 (the "Offering").
The Offering is expected to close on or about May 20, 2008 and is subject to
regulatory approval.
The Company has granted the Underwriters an over-allotment option (the
"Over-Allotment Option"), exercisable for a period of 30 days following the
closing of the Offering, to purchase up to an additional 15% of the number of
common shares issued pursuant to the Offering at the Offer Price.
The Company intends to use the net proceeds from the offering to secure
additional silicon wafers, to fund the Company's proprietary PV silicon and PV
cell technology programs, to provide funding for a research and development
and silicon pilot production facility and for other general corporate
purposes.
Closing of the Offering is subject to certain conditions, including but
not limited to, receipt of all necessary securities regulatory approvals,
including the approval of the Toronto Stock Exchange.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction. The Common
Shares have not been and will not be registered under the United States
Securities Act of 1933 and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirement.
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 percent. The PV Silicon Division is using a proprietary method
to produce silicon at 7N+ high-purity (99.99999 percent purity) for PV
applications, based on a simplified chemical vapour 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 provides complete
turnkey PV solutions for solar farms and rooftop installations under the
Ontario standard offer 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.
Forward-Looking Statements
Certain statements in this news release may be considered to be
forward-looking. Such statements are based on management's current
expectations, estimations, and assumptions based on experience, trends, and
other factors that are subject to the significant risks and uncertainties
described in our regulatory filings. Please refer to these. Such risks and
uncertainties may include, but are not limited to, the effects of general
economic conditions, changing foreign exchange rates, actions by government
authorities, uncertainties associated with legal proceedings and negotiations,
industry supply levels, competitive pricing pressures and misjudgments in the
course of preparing forward-looking statements. ARISE assumes no obligation to
update any forward-looking statements or to update the reasons why actual
results could differ from those reflected in the forward-looking statements.
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