TORONTO, Dec. 6 /CNW/ - SonnenEnergy Corp. (TSX-V: PWR), an established
photovoltaic solar power systems integrator and solar power producer, today
announced that the Honourable Brian V. Tobin, P.C., ICD.D and James Sardo have
been appointed to the company's Board of Directors.
"It is obviously a terrific achievement for SonnenEnergy to be able to
attract directors of the exceptional experience and calibre as Brian Tobin and
Jim Sardo to our Board," said Jeffrey Dennis, Chairman.
"As we continue to grow our business in Europe and plan to enter North
American markets in the near future, SonnenEnergy will certainly benefit from
being able to draw on Mr. Tobin's lengthy political and business career and
accomplishments in international affairs and Mr. Sardo's decades of business
experience in senior management and on a number of boards of publicly owned
companies. These gentlemen also share our strong commitment to meeting the
highest standards of corporate governance. Each has already become a
shareholder in SonnenEnergy, having purchased Units in our recently completed
public offering that raised gross proceeds of $11.9 million, which we will be
deploying to finance the growth of our business.
With the additions of Mr. Tobin and Mr. Sardo, SonnenEnergy's Board of
Directors will comprise seven directors, including Jeffrey Dennis, Chairman,
and Hans Hager, Randall Pilon, Christian Reinert, and Bernard Wilson.
Mr. Tobin retired from politics in January 2002 after 22 years in public
life and has since been active in a number of business roles. Mr. Tobin was
first elected to the House of Commons as a Member of Parliament in 1980 and
was appointed Parliamentary Secretary to the Minister of Fisheries and Oceans.
Winning re-elections in 1984, 1988, and 1993, he was appointed Minister of
Fisheries and Oceans in 1993. In 1996, after entering provincial politics, he
was acclaimed Premier of Newfoundland and Labrador and subsequently won
majority governments in 1996 and 1999. In October 2000, Mr. Tobin resigned
from provincial politics to run in the forthcoming federal election. He was
appointed Minister of Industry, following which he was elected again as a
Member of Parliament.
Mr. Tobin now serves as Senior Business Advisor for a leading business
law firm, Fraser Milner Casgrain LLP in Toronto. He is Chairman of the Board
of Director of New Flyer Industries, Vice-Chairman of the Board of
Consolidated Thompson Iron Mines Limited, and serves a Director for Lions Gate
Entertainment Corporation, Aecon Group Inc., Persona Inc., and Canadian Phone
Directories, as well as acting as a strategic advisor to a number of other
Canadian corporations. Mr. Tobin is a Senior Fellow of the Fraser Institute.
Mr. Sardo's extensive business career includes serving as President of
the Canadian operations of Moore Corporation Limited from 1999 to 2001 and
President and Chief Executive Officer of SMK Speedy International Inc. from
1997 to 1999. He has also served in earlier roles as the Chief Executive
Officer of Amre Inc., a Dallas, Texas-based manufacturer of home improvement
products and Chief Executive Officer of SNE Inc., as Chairman and CEO of
Firestone Canada Inc. in Hamilton, Ontario, and President of Firestone
Industrial Products Company in Indianapolis, Indiana. In 2004 and 2005, he
acted as the interim CEO of Royal Group Technologies through a period of
restructuring of the company.
Mr. Sardo, who is a member of the Institute of Corporate Directors, has
held or holds a number of Board positions, including with Royal Group
Technologies, as a Trustee of New Flyer Industries Inc., Hydrogenics
Corporation, Chairman of the Board of Trustees of Countryside Power Income
Fund (2004-2007), a Trustee of Union Waterheater Income Trust (2004-2007), and
a Trustee of Custom Direct Inc.
SonnenEnergy Corp. is a solar power systems integrator and solar power
producer. The company markets, sells, designs, installs, operates, and
maintains grid-connected solar power systems and has installed more than 100
photovoltaic (PV) solar power commercial and residential systems since 2004.
Its European operations are headquartered in Polling, Germany and it operates
four solar parks in southern Germany (three that it built and maintains for
commercial customers and one that it operates for its own account) which have
total installed capacity of more than 4,000 kWp.
Forward-looking statements in this news release are based on current
expectations that are subject to significant risks and uncertainties. Actual
results might differ materially due to various risks and uncertainties as
described in the company's amended and restated preliminary prospectus
available at www.sedar.com. Such risks and uncertainties include, but are not
limited to, the retention of key personnel, its dependence on suppliers for
components for the systems that it designs and installs, the availability of
silicon, its ability to expand sales, technology changes, unexpected warranty
expenses or service claims, and its ability to meet its clients' expectations.
SonnenEnergy assumes no obligation to update any forward-looking statement or
to update the reasons why actual results could differ from such statements.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Jeffrey Dennis, Chairman, SonnenEnergy Corp.,
(416) 540-2596, Email: email@example.com