5.4.2006: Meldung: ARISE Secures 3,835,000 Dollar of Financing
The terms of the private placements are the same as the previous financing of $131,857 announced on February 23, 2006, which received final TSX Venture Exchange approval on March 3, 2006. It is expected that the non- brokered private placement will close on or about Monday April 3, 2006 and the brokered private placement will close on or about April 5, 2006. The final closing is subject to approval from the TSX Venture Exchange. The price reservation was made on March 9, 2006.
ARISE is also in the process of finalizing a debt to equity conversion of $239,272 of outstanding debts at a price of $0.41 per common share, subject to TSX Venture Exchange approval. In addition, as of March 31, 2006, $439,959 of existing secured convertible debentures have been converted into common shares at the contractual $0.25 per common share conversion price and $100,000 of unsecured notes have been converted at the contractual $0.75 per common share conversion price.
The Company was informed on March 24, 2006 by the Deutsche Borse that its common shares were being listed on the Frankfurt Stock Exchange Open Market under the symbol A3T. Trading commenced on March 28, 2006. While the Company welcomes this listing, it took no action to secure it.
Ian MacLellan, Vice-Chairman and CEO of ARISE stated that, "We are very pleased with the results of this financing from new and existing investors. Dominick & Dominick has done a great job adding seven new institutional shareholders and increasing the investment from an existing institutional shareholder. This financing and debt conversion will allow ARISE to implement the next step of our business plan and significantly improve our balance sheet."
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 and Deutsche Borse under the symbol A3T. Additional information is available at www.sedar.com and www.arisetech.com.
For further information
ARISE Technologies Corporation, Ian MacLellan, Vice-Chairman & CEO, (519) 725-2244 x222, firstname.lastname@example.org
321 Shoemaker Street, Kitchener, Ontario, Canada N2E 3B3, Tel. (519) 725-2244, Fax: (519) 725-8907, TSX Venture Exchange Symbol: APV, www.arisetech.com