CALGARY, March 13 /CNW/ - ENMAX Corporation ("ENMAX") today announced the
purchase through a private placement from treasury (the Private Placement) of
$1.85 million of common shares of Streetlight Intelligence Inc. ("STI"),
(TSX-V: SJQ), a company involved in products and services for the street light
"We see investment in this company and future cooperation with them as
another way in which ENMAX can help to reduce the environmental impact of our
customers' energy use," said Peter Hunt, VP of Public Affairs for ENMAX.
"Their technology allows street lights to be remotely controlled at specified
times, which results in significant energy savings and reductions in
greenhouse gas emissions and light pollution. Their network also immediately
identifies malfunctioning street lights, which will help reduce maintenance
After the Private Placement, ENMAX owns and controls 11,562,500 common
shares of STI (the "common shares"), purchased at a cost of $0.16 per share
for a total subscription amount of $1.85 million, representing approximately
18.4 per cent of issued and outstanding common shares of STI. The Common
Shares were issued to ENMAX pursuant to a share subscription agreement dated
as of March 13, 2008, between ENMAX & STI. ENMAX purchased the Common Shares
based on the "accredited investor" exemption found in National Instrument
45-106 as ENMAX is an accredited investor as defined in that Instrument.
ENMAX Corporation, though subsidiaries and predecessors, has provided
Albertans with safe and reliable electricity for more than 100 years. ENMAX
provides electricity, natural gas and value-added services to more than
500,000 residential, commercial and industrial customer accounts in Alberta.
ENMAX Energy is one of Alberta's largest investors in renewable energy with
partial ownership of the McBride Lake Wind Farm and complete ownership of the
Taber Wind Farm. ENMAX Energy has the largest green power marketing program of
its kind in Canada. Visit our website at enmax.com.
For further information:
For further information: Peter Hunt, VP, Public Affairs, ENMAX
Corporation, 141 - 50 Avenue S.E., Calgary, Alberta, T2G 4S7, Tel: (403)