- New CFO brings extensive international experience to support growth
of solar power systems integrator and producer
TORONTO, Dec. 11 /CNW/ - SonnenEnergy Corp. (TSX-V: PWR), an established
photovoltaic solar power systems integrator and solar power producer, today
announced that John Ross, M.B.A., C.A. has joined the company as its Chief
"As SonnenEnergy expands our solar power operations in Europe and plans
future entry into other markets, including in North America, we believe that
the impressive background that John Ross brings to us as a CFO, including in
companies with extensive international operations, will prove very valuable to
us," said Sudhir Morar, Chief Executive Officer.
Mr. Ross succeeds Wolfgang Bresser, who has been serving as the company's
interim Chief Financial Officer in addition to being the CFO of SonnenEnergie
GmbH in Germany, the company acquired in late November by SonnenEnergy. Mr.
Bresser is resigning from both positions, effectively immediately. "We want to
extend our appreciation to Wolfgang for his contributions toward
SonnenEnergy's acquisition of SonnenEnergie and the work required to complete
on November 28 our successful public offering of Units (one common share and
one warrant), which raised gross proceeds of C$11.9 million to fund our
growth," Mr. Morar said.
Prior to joining SonnenEnergy, Mr. Ross held a number of senior financial
management positions, including as Chief Financial Officer of FNX Mining; CFO
and prior to that Corporate Controller for IAMGold Corp.; various financial
positions with Rio Algom Limited; and Controller of Newell Industries. Most
recently, Mr. Ross has been providing financial expertise to various companies
in a consulting capacity and is serving as a Director of a junior gold
exploration company. Mr. Ross earned his Chartered Accountant designation in
1987 and holds an M.B.A. from the University of Western Ontario.
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: Sudhir Morar, Chief Executive Officer,
SonnenEnergy Corp., (416) 410-1212, Email: email@example.com