ARISE Completes First Closing of Fully Subscribed $2.0 Million Non-Brokered
Offering

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES/

WATERLOO, ON, Nov. 18 /CNW/ - ARISE Technologies Corporation (TSX: APV and Frankfurt: A3T), which is dedicated to becoming a leader in high-performance, high-quality, cost-effective solar technology, today announced the completion of the first closing in connection with its non-brokered offering of up to 6,666,666 Units at a price of $0.30 per Unit for gross proceeds of up to $2.0 million. ARISE has received subscriptions for the entire $2.0 million offering and the initial closing was in respect of $1.72 million. It is expected that a second closing will occur on or about November 24, 2009 for the remainder of the offering.

Each Unit consists of one common share and one common share purchase warrant. Each share purchase warrant is exercisable into one common share at a price of $0.35 per common share if exercised before November 6, 2010 and at a price of $0.40 per common share if exercised between November 7, 2010 and November 6, 2011. The share purchase warrants expire on November 6, 2011 unless such date is accelerated in accordance with the terms of the share purchase warrants. The expiry date of the warrants may be accelerated if the closing trading price of the common shares exceeds $0.60 for twenty consecutive trading days.

The common shares being issued in the offering, including the common shares to be issued on exercise of the warrants have been conditionally approved for listing on the Toronto Stock Exchange. Following the second closing and assuming exercise of the share purchase warrants issued in the offering there will be 140,109,428 ARISE common shares issued and outstanding.

As previously announced, a total amount of $855,000 of debt owed by ARISE to MacLellan Management Limited and Hildon Trading Inc. has been exchanged in the Offering for 2,850,000 Units.

About ARISE Technologies

ARISE Technologies Corporation, based in Waterloo, Ontario, is dedicated to becoming a leader in high-performance, cost-effective solar technology. The company operates through three divisions. The PV Cell Division manufactures PV (photovoltaic) cells at its first manufacturing plant opened in April 2008 in Bischofswerda, Germany. The division is developing proprietary technology with a target of achieving a step-by-step progression to a high-efficiency level of greater than 20%. The PV Silicon Division is using a proprietary method to produce silicon at 7N+ high-purity (99.99999% purity) for PV cell applications, based on a simplified chemical vapor deposition process. The division is focusing on scaling up its process to provide ARISE with control over its supply, costs, and quality. The PV Systems Division has been providing PV solutions for solar farms and rooftop installations since 1996 throughout North America. ARISE is planning to expand its systems business in Ontario under the Ontario FIT (Feed-In Tariff) program.

The company's shares are listed on the Toronto Stock Exchange under the symbol APV and on the Frankfurt Open Market Exchange under the symbol A3T. Additional information is available at www.arisetech.com and www.sedar.com.

Forward-Looking Statements and Risk Factors

Certain statements in this news release may be considered to be forward-looking. Such statements are based on management's current expectations, estimations, and assumptions based on experience, trends, and other factors that are subject to the significant risks and uncertainties described in our regulatory filings. Please refer to these. Such risks and uncertainties may include, but are not limited to, the effects of general economic conditions, changing foreign exchange rates, actions by government authorities, the requirement for additional capital, risks associated with manufacturing, industry supply levels, competitive pricing pressures and misjudgements in the course of preparing forward-looking statements.

Risk factors relating to ARISE are discussed in the Risk Factors section of ARISE's Annual Information Form and under the headings Liquidity and Capital Resources and Risk and Uncertainties in ARISE's year-end Management's Discussion and Analysis which are or will be available at www.sedar.com. These factors should be considered carefully, and readers should not place undue reliance on ARISE's forward-looking statements.

ARISE assumes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

%SEDAR: 00017494E

SOURCE ARISE TECHNOLOGIES CORPORATION

For further information: For further information: ARISE Technologies Corporation, 65 Northland Road, Waterloo, Ontario, Canada, N2V 1Y8; Dave Chornaby, Chief Financial Officer, (519) 772-5732, Dave.Chornaby@arisetech.com, www.arisetech.com

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ARISE TECHNOLOGIES CORPORATION

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