ARISE Announces Closing of Drawdown from Committed Equity Facility of $250,000

WATERLOO, ON, Nov. 3, 2011 /CNW/ - ARISE Technologies Corporation (TSX: APV and Frankfurt: A3T) ("ARISE" or the "Company"), a leader in high-performance, high-quality, cost-effective solar technology, today announced that the Company has completed the drawdown announced on October 27, 2011,  in the amount of $250,000 from its previously announced Committed Equity Facility Agreement with Haverstock Master Fund ("Haverstock").

Under the terms of the Agreement, to complete the $250,000 drawdown, ARISE issued 12,315,271 common shares to Haverstock at an average price of $0.0203 per share.

The facility agreement, the base shelf prospectus, the prospectus supplement, and the pricing supplements are available on SEDAR at www.sedar.com and on ARISE's website at www.arisetech.com. This news release does not constitute an offer to sell ARISE securities or the solicitation of an offer to buy ARISE securities, nor is there to be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

ARISE will continue to provide regular updates to its shareholders on the progress of the Company's negotiations in relation to the proposed business combination.

About Haverstock
Haverstock is an institutional investor with an investment objective to seek capital appreciation through the general strategy of investing in public securities of U.S. and non-U.S. companies, through direct equity purchases from such companies.  The portfolio manager of Haverstock, David Ratzker, has structured more than US$300 million worth of private equity investments in publicly traded corporations in a variety of sectors including energy, cleantech, telecommunications, consumer, and education.

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 consists of three divisions.  The PV (photovoltaic) cell manufacturing division (ARISE Germany) is located in Bischofswerda, Germany.  As previously announced ARISE Germany has entered into a voluntary insolvency process under German law.  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 rooftop and ground-mounted PV solutions since 1996. ARISE continues to operate 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.

Forward-Looking Statements and Risk Factors
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, the requirement for additional capital, risks associated with manufacturing, industry supply levels, competitive pricing pressures and misjudgements in the course of preparing forward-looking statements.

Risk factors relating to ARISE are discussed in the Risk Factors section of the (final) prospectus supplement, ARISE's Annual Information Form and under the headings Liquidity and Capital Resources and Risk and Uncertainties in ARISE's year-end Management's Discussion and Analysis which are or will be available at www.sedar.com.  These factors should be considered carefully, and readers should not place undue reliance on ARISE's 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.

 

SOURCE ARISE Technologies Corporation

For further information:

ARISE Technologies Corporation
65 Northland Road, Waterloo, Ontario, Canada N2V 1Y8
Doug McCollam, Chief Financial Officer, (519) 772-5706
www.arisetech.com

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