7.1.2003: Meldung: Solar Energy Limited: Shareholders Meeting
Monday January 6, 3:11 pm ET
LOS ALAMOS, N.M.--Jan. 6, 2003--Solar Energy Limited (the "Company") (OTCBB:SLRE - News) announces that it will hold an Extraordinary General Shareholder"s meeting to be held in Los Alamos, New Mexico on January 27, 2003 at the office of the Company, 112C Longview Drive, Los Alamos, NM at 2:00 pm.
Agenda for the meeting is as follows:
1. Discuss and vote on an offer to sell 90% of the shares of Sunspring, Inc. (SUNS) and 90% of the shares of Renewable Energy Corp. (RECO). The purchaser is required to provide $3.8 million in working capital funding for RECO and SUNS. The Company would be paid $200,000 cash plus retain a 10% `carried" interest in both RECO and SUNS along with a 1% gross royalty on all sales generated by SUNS and RECO,
2. To endorse raising of up to $1,000,000 as immediate working capital for the Company. The funds to be raised by a private placement at no less than 30(cent)/share. The proceeds to be used primarily as working capital for the ongoing operations of the Company. This includes exploring various alternatives to commercializing some of its technologies including selling some of its assets or joint venture with an investor,
3. Review of current and future operations of the Company
The major projects underway are Solarec, H20NOW and MECH.
Solarec is the project where by using only solar energy plus CO2 from the atmosphere, (solar reduction of CO2) a commercial fuel is produced along with commercial electricity. A variation of the concept is to produce green hydrogen.
H20NOW is the concept where potable water is produced at less than 50(cent) / 1000 gals using only solar energy and salt or brackish water. At this price the water is not only clean enough to drink but inexpensive enough to be used for agricultural purposes.
MECH is an engine/pump/compressor one third the size and weight of a conventional engine for the same power and one third more efficient.
Statements made by the company may be forward looking in nature. Actual results may differ from those projected. The company believes that the information in this release is from sources considered reliable but cannot guarantee that the statements presented herein are accurate or complete.
Solar Energy Limited
Dr. Melvin Prueitt or Dr. Reed Jensen, 505/672-2000
Source: Solar Energy Limited