Arise Technologies: Review of Strategic Alternatives
ARISE Technologies Corporation, a leader in high-performance, high-quality, cost-effective solar technology, today announced that its Board of Directors has commenced a review of strategic alternatives with the objective of enhancing stakeholder value. ARISE has hired Canaccord Genuity Corporation ("Canaccord Genuity") to assist in the strategic review and act as a financial advisor to ARISE.
"We are pleased to be working with Canaccord Genuity to help us in evaluating a full range of opportunities and options. While we are currently engaged in discussions with a number of parties regarding strategic options, Canaccord Genuity's advice will assist us to rigorously review all possible options in order to determine the best way to maximize stakeholder value going forward. We selected Canaccord Genuity because of their deep experience and strong track record in the area of strategic evaluations," said Dan Shea, President and CEO of ARISE.
ARISE will continue with all of its planned business activities throughout the strategic alternatives review process. ARISE does not intend to disclose developments with respect to the strategic review process until its Board of Directors has approved any specific course of action. There can be no assurance that a review of strategic alternatives will result in any transaction or strategic initiative.
About Canaccord Genuity Corporation
Canaccord Genuity is the global capital markets division of Canaccord Financial Inc (CF: TSX | CF.: AIM), offering institutional and corporate clients idea-driven investment banking, merger and acquisition, research, sales and trading services from 16 offices worldwide. Our team of over 400 capital markets professionals have industry and transactional expertise in critical sectors of the global economy.
About ARISE Technologies
ARISE Technologies Corporation, based in Waterloo, Ontario, is 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 rooftop and ground-mounted PV solutions since 1996. 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.