Sustainable Energy Techmologies: Update on Standby Equity Commitment
Toronto, Ontario - Sustainable Energy Technologies Ltd ("Sustainable Energy" or the "Company") announced that it will draw an additional $500,000 on the previously announced $1.5 million Standby Equity Commitment by Doughty Hanson in exchange for 50,000 First Preferred Shares of the Company convertible into common shares of the Company at $ 0.10 per share.
About Sustainable Energy:
Sustainable Energy (www.SustainableEnergy.com) is a Canadian solar inverter company which supplies Canada, the U.S. and Europe. The Company's patented inverter technologies are a breakthrough in power inverter design and capabilities for all forms of distributed generation and smart grid applications.
Forward Looking Information
The reader is advised that some of the information herein may constitute forward-looking statements within the meaning assigned by National Instruments 51-102 and other relevant securities legislation. In particular, it includes: statements concerning the impact of Sustainables' technology on solar PV system performance. While management believes these statements to be accurate they are dependent on a wide range of factors beyond management's control and should not be viewed as a guarantee of the specific outcome. Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties.
Many factors could cause the Companies' actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. The Companies do not undertake any obligation to release publicly any revisions to forward- looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sustainable Energy Technologies Ltd.
Chief Executive Officer