/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO
U.S. NEWS WIRE SERVICES/
WATERLOO REGION, ON, March 27 /CNW/ - ARISE Technologies Corporation
(TSX-V: APV) (ADAX: A3T) announced today that it has filed a preliminary short
form prospectus with the securities regulatory authorities in all provinces of
Canada other than Quebec, in connection with a proposed public offering of
The offering will be conducted through a syndicate of underwriters led by
Canaccord Capital Corporation and including CIBC World Markets Inc., Sprott
Securities Inc., D&D Securities Company and Loewen, Ondaatje, McCutcheon
Limited. Determination of pricing and the number of common shares to be sold
under the offering will occur prior to the filing of the (final) short form
prospectus in respect of the offering.
The Company intends to use the net proceeds from the Offering primarily
for (i) construction and equipment in connection with the Company's proposed
German photovoltaic cell manufacturing plant, (ii) its silicon operation
including its required contributions to the Sustainable Development
Technologies Canada supported solar grade silicon project and (iii) general
corporate purposes, including working capital.
The proposed public offering will be conducted on an underwritten basis,
and is expected to close in mid April 2007. 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 TSX Venture
This press release does not constitute an offer of the securities
described herein in any jurisdiction. The securities described herein have not
been and will not be registered under the United States Securities Act of
1933, as amended, or the securities laws of any state and may not be offered
or sold in the United States absent an exemption from registration.
ARISE Technologies is dedicated to accelerating the use of solar energy
in mainstream North American markets. The Company's shares are listed on the
TSX Venture Exchange under the symbol APV. Additional information is available
at www.arisetech.com and www.sedar.com.
Certain statements contained in this press release may be considered as
forward-looking. Such forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially from
estimated or implied results. The TSX Venture Exchange has neither approved
nor disapproved the contents of this news release.
For further information:
For further information: ARISE Technologies Corporation, 321 Shoemaker
Street, Kitchener, Ontario, Canada, N2E 3B3, T: (519) 725-2244 F: (519)
725-8907, www.arisetech.com; David Ward, Director, Communications & Investor
Relations, T: (519) 725-2244, C: (416) 953-7638, firstname.lastname@example.org