ARISE Provides Update on Discussions to Extend Trust Agreement

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Willy Nilly

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ARISE Provides Update on Discussions to Extend Trust Agreement

posted on Feb 28, 2011 04:40PM

Press Release Source: ARISE Technologies Corporation On Monday February 28, 2011, 4:30 pm

WATERLOO, ON, Feb. 28 /CNW/ - ARISE Technologies Corporation ("ARISE" or the "Company") (Toronto:APV.TO) (Frankfurt: A3T), a leader in high-performance, high-quality, cost-effective solar technology, today announced that discussions are continuing with the parties involved in the extension of its trust agreement with Commerzbank AG ("Commerzbank" or the "Bank"). As detailed in the Company's press release issued on February 1, 2011, ARISE was required to meet certain conditions by February 28, 2011, in order to secure an extension of the Company's loan facilities with the Bank until December 31, 2011. Fulfilling certain of the required conditions has taken longer than originally anticipated. As a result, ARISE management continues to conduct discussions with all parties involved and will provide an update on the progress of these discussions in the near future.

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