ARISE Technologies Corporation completes $22 million common share offering


    WATERLOO, ON, April 24 /CNW/ - ARISE Technologies Corporation ("ARISE" or
the "Company") (TSX-V: APV) (ADAX: A3T) is pleased to announce the successful
completion of its previously announced short form prospectus financing (the
"Offering") with a syndicate of underwriters led by Canaccord Capital
Corporation and including CIBC World Markets Inc., Cormark Securities Inc.,
D&D Securities Company and Loewen, Ondaatje, McCutcheon Limited (collectively,
the "Underwriters"). Pursuant to the Offering, the Underwriters have purchased
22,000,000 common shares at a price of $1.00 per common share for aggregate
gross proceeds of $22,000,000.
    The Company has granted the Underwriters an over-allotment option (the
"Over-Allotment Option"), exercisable for a period of 30 days following the
closing of the Offering, to purchase up to an additional 15% of the number of
common shares issued pursuant to the Offering. If the Over-Allotment Option is
exercised in full, then ARISE will receive aggregate gross proceeds of
    The Company intends to use the net proceeds of the Offering primarily for
(i) construction and equipment in connection with its proposed German
photovoltaic cell manufacturing plant, (ii) the Company's silicon operation
including its required contributions to the Sustainable Development
Technologies Canada supported solar grade silicon project and (iii) general
corporate purposes, including working capital.

    About ARISE
    ARISE Technologies is dedicated to accelerating the use of solar energy
in mainstream North American markets. The Company's shares are listed on the
TSX Venture Exchange under the symbol APV. Additional information is available
at and Certain statements contained in this
press release may be considered as forward-looking. Such forward-looking
statements are subject to risks and uncertainties that could cause actual
results to differ materially from estimated or implied results. The TSX
Venture Exchange has neither approved nor disapproved the contents of this
news release.
    %SEDAR: 00017494E

For further information:

For further information: ARISE Technologies Corporation, 65 Northland
Road, Waterloo, Ontario, Canada, N2V 1Y8, T: (519) 725-2244, F: (519)
725-8907,; David Ward, Director, Communications & Investor
Relations, T: (519) 772-5709, C: (416) 953-7638,

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