Streetlight Intelligence Inc. Announces Proposed Strategic Investment by Ontario-based Utility



    VICTORIA, June 2 /CNW/ - Streetlight Intelligence Inc. ("SLQ") is pleased
to announce that it has signed a term sheet (the "Term Sheet") with an
Ontario-based utility (the "Purchaser") contemplating a strategic investment
by Purchaser in SLQ.
    The Term Sheet contemplates that in consideration of the payment of
$500,000 the Purchaser will acquire an option to purchase up to 5,000,000
common shares of SLQ ("Purchase Option") at an exercise price of $0.11 per
share exercisable for a 12 month period following closing. The Purchase Option
shall include a put right (the "Put Right") whereby Purchaser may require SLQ
to repurchase and cancel the Purchase Option for $500,000 plus an amount equal
to an inherent return on the investment of approximately 10% per annum. In
order to provide Purchaser with security to support SLQ's obligation to
repurchase the Purchase Option, SLQ shall grant Purchaser a first priority
security interest over all of the present and future property, assets and
undertaking of the Issuer, including all fixed assets, intellectual property
and other intangibles, subject to approval of the existing SLQ debenture
holders. If the Purchase Option is subsequently exercised the Corporation will
receive a further $550,000 for an aggregate investment amount of $1,050,000.
The Purchase Option and any common shares issuable upon exercise of the
Purchase Option shall be subject to a hold period expiring four months plus
one day following the date that the final Purchase Option documentation is
executed. The net proceeds from the sale of the Purchase Option will be
$465,000 after deducting agent fees.
    The Purchaser is in discussions with SLQ with regards to a broader
strategic investment that could include a future investment, the establishment
of a non-exclusive distribution agreement within the Province of Ontario
between SLQ and Purchaser, and the potential purchase of SLQ's products and
services. The discussions are preliminary and no assurances can be made that
the discussions will result in any of the above-mentioned outcomes.
    Subject to execution of definitive documentation and regulatory body
approval, it is anticipated that this financing will close in the near future.
 Net proceeds from this financing will be used for general working capital.

    About Streetlight Intelligence Inc.

    Streetlight Intelligence Inc. develops advanced street light optimization
systems - and was recently recognized as the "New Technology of the Year" at
the British Columbia Hydro 2009 Power Smart Excellence Awards. 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
symbol "SLQ".

    Forward-Looking Information

    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 receipt of funds from this financing, a potential
broader strategic investment by Purchaser in SLQ, a potential distribution
agreement 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- T 250 544-0147 F 250 544-0148 info@StreetlightIQ.com
www.StreetlightIQ.com 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 ability and timing of the Corporation to complete the financing,
the effects of a recessionary economy and volatile capital markets and such
other business risks as discussed herein and other publicly filed disclosure
documents of the Corporation which are specifically incorporated herein by
reference. 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.
    

    %SEDAR: 00019937E




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,
malenius@StreetlightIQ.com

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STREETLIGHT INTELLIGENCE INC.

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