(Not for U.S. release or distribution to U.S. newswire services)
VICTORIA, BC, April 20 /CNW/ - Streetlight Intelligence Inc. ("SLQ") is
pleased to announce that it proposes to complete a private placement of up to
10,000,000 units at a purchase price of $0.10 per unit (the "Unit") for gross
proceeds of up to $1,000,000 (the "Offering"). Each Unit will consist of one
common share and one-half (1/2) of one common share purchase warrant
("Warrant"). Each whole Warrant will entitle the holder to purchase one
additional common share of the Corporation at a price of $0.20 exercisable for
a period of 12 months from the closing of the Offering.
The common shares, Warrants, and any common shares issued upon exercise
of the Warrants shall be subject to a hold period expiring four (4) months and
one day after issuance.
Subject to the best efforts of SLQ, it is anticipated that the Offering
will close prior to the middle of May, 2009. Net proceeds from the private
placement will be used for general working capital. Completion of the private
placement is subject to receipt of all regulatory body approvals, including
approval by the TSX Venture Exchange Inc. SLQ currently has 62,780,663 common
shares issued and outstanding.
About Streetlight Intelligence Inc.
Streetlight Intelligence Inc. develops advanced street light optimization
systems. Trademarked as Lumen IQ(TM), SLQ's technologies provide improved lamp
performance, adaptive lighting control, and system-wide communications for
centralized street light management. SLQ's systems enable street light
operators to significantly reduce their community's energy consumption,
maintenance costs and environmental impact.
SLQ is a public company listed on the TSX Venture Exchange under the
Certain statements contained in this news release constitute
"forward-looking statements" as such term is used in applicable Canadian
securities laws. These statements relate to analysis and other information
that are based on forecasts of future results, estimates of amounts not yet
determinable and assumptions of management. In particular, statements
concerning anticipated completion of the private placement and other factors
and events described in this news release should be viewed as forward-looking
statements to the extent that they involve estimates thereof. Any statements
that express or involve discussions with respect to predictions, expectations,
beliefs, plans projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as "expects"
or "does not expect", "is expected", "anticipates" or "does not anticipate",
"plans", "estimates" or "intends", or stating that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or be
achieved) are not statements of historical fact and should be viewed as
"forward-looking statements". Such forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Corporation to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such risks and other factors
include, among others, the availability of capital to complete this Offering,
the effects of a recessionary economy and such other business risks as
discussed herein and other publicly filed disclosure documents of the
Corporation. Although the Corporation has attempted to identify important
factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements there may be
other factors that cause actions events or results not to be anticipated,
estimated or intended. There can be no assurance that such statements will
prove to be accurate as actual results and future events could vary or differ
materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements contained in
this news release.
Forward-looking statements are made based on management's beliefs,
estimates and opinions on the date the statements are made and the Corporation
undertakes no obligation to update forward-looking statements and if these
beliefs, estimates and opinions or other circumstances should change, except
as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy and accuracy of this release.
For further information:
For further information: visit www.StreetlightIQ.com or contact: Vincent
Krynski, Chief Executive Officer, (403) 571-2412, vkrynski@StreetlightIQ.com;
D. Mark Alenius, CA, Chief Financial Officer, (403) 803-7390,