Solar Night Industries, Inc. Announces Conversion of Debt into Common Stock and Private Placement of Common Stock
19 5월 2007 - 4:11AM
Business Wire
Solar Night Industries, Inc. (Pink Sheets:SLND) announced today
that it has executed agreements with private investors to fully
convert the entire principal amount of $700,000 of existing 6%
senior secured convertible debt (the �Debt�) and related
liabilities into 11,000,000 shares of the Company�s common stock,
and reduce the amount of warrants issued to the holders of the Debt
from 10,600,000 to 6,000,000 warrants with certain adjustments to
the warrants� features. In addition, the Company raised $400,000 in
gross proceeds from the sales of 4,000,000 shares of its common
stock to certain private investors. Jason Loyet, President, stated,
�We are extremely pleased that the Company�s long term liabilities
have been significantly reduced and that we have been able to
secure participation of several investors via the private placement
of our shares, thereby significantly increasing our shareholder
base. In addition, this reduction of debt and new financing will
allow the Company to continue in its mission to accelerate the
adoption of modern energy solutions.� About Solar Night Industries,
Inc. Solar Night Industries, Inc. (Pink Sheets:SLND) is an early
stage, clean-energy company that enables residential and commercial
energy users across the U.S. to implement cost-effective solar and
wind solutions. These modern energy solutions help reduce
dependence on traditional energy sources and, in turn reduce carbon
emissions. Solar Nights Industries, Inc. is based in St. Louis,
Missouri (USA). For more information, visit
http://www.SolarNightIndustries.com Safe Harbor Statement This
press release contains forward-looking statements, which are made
in reliance upon the �Safe Harbor� provisions of the Private
Securities Litigation Reform Act of 1995. Actual results could
differ materially from the statements expressed or implied herein
due to a variety of factors including, but not limited to: the
development of Solar Night Industries� solar cell technology and
solar solutions, ability to secure additional financing, the
successful marketing and distribution of Solar Night Industries�
products, market acceptance of Solar Night Industries� products and
technology, competition and timing of projects and trends in the
solar industry, as well as other factors. The forward-looking
statements contained herein are made only as of the date of this
press release, and Solar Night Industries undertakes no obligation
to publicly update such forward-looking statements to reflect
subsequent events or circumstances.
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