ARISE Closes $500,000 Bridge Loan and Provides Update on Commerzbank Agreement

WATERLOO, ON, Sept. 15, 2011 /CNW/ - ARISE Technologies Corporation (TSX: APV and Frankfurt: A3T) ("ARISE" or the "Company"), which is a leader in high-performance, high-quality, cost-effective solar technology, today announced that the Company closed a $500,000 bridge loan ("Bridge Loan") from Radiant Offshore Fund Ltd and Radiant Performance Fund LP (collectively "Radiant"). The purpose of the Loan is to provide working capital bridge financing to the Company. The Loan matures on December 14, 2011 and bears interest at a rate of 10.0% per annum.

The Company also agreed to issue to Radiant 3,499,897 share purchase warrants. Each share purchase warrant is exercisable for a period of 6 years into one common share at an exercise price of $0.055 per share. The Bridge Loan is secured with a general security agreement on the assets of the Company.

The Company intends to use the proceeds to augment its working capital position during its strategic alternatives discussions.

In addition, the Company and Radiant entered into an amending agreement in respect of the share purchase warrants issued to Radiant in July.  In consideration for Radiant agreeing to subordinate its security position in the Company's assets in certain circumstances, the Company has agreed to reduce the exercise price of the 66,666,667 share purchase warrants issued to Radiant in July to $0.055 from $0.10.  Certain repayment and warrant cancellation features of the previous financing were also amended.

Update on Commerzbank Agreement
The Company today also announced that discussions are continuing with the parties involved in the extension of its standstill agreement with Commerzbank AG. ARISE management will provide an update on the progress of these discussions when an agreement is finalized.

"I'm pleased with the cooperation of Commerzbank as we work through our strategic discussions," commented Dan Shea, ARISE's President and CEO.

About Radiant Investments
Radiant Investment Management Ltd. (RIML) is an event-driven hedge fund that employs a variety of strategies to generate alpha returns for its investors. RIML made their first investment in Arise Technologies in June 2010 and continues to be supportive of management and their direction. RIML's head office is located in Toronto, Canada and RIML has onshore and offshore funds. 

About ARISE Technologies
ARISE Technologies Corporation, based in Waterloo, Ontario, is 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 rooftop and ground-mounted PV solutions since 1996. 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.

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.

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

SOURCE ARISE Technologies Corporation

For further information:

Investor Relations:
Glen Williams
The Equicom Group
(416) 815-0700 x272
gwilliams@equicomgroup.com

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ARISE Technologies Corporation

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