ARISE Completes $350,000 Drawdown Under CEF

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ARISE Completes $350,000 Drawdown Under CEF

posted on Apr 13, 2011 11:59AM

Posted by TechNews on April 13, 2011

ARISE Technologies Corporation (TSX: APV; Frankfurt: A3T), a developer of high-performance, high-quality, cost-effective solar technology, has completed its previously announced $350,000 equity drawdown under its Committed Equity Facility (CEF) agreement with Haverstock Master Fund, Ltd. entered into with Haverstock in December 2009.

ARISE Technologies issued a drawdown notice on Aril 1, 2011.

On April 11, 2011, ARISE Technologies issued 2,694,380 common shares at $0.13 per share to Haverstock Master Fund to raise gross proceeds of $350,000.

ARISE previously announced the extension of the required fulfillments of certain terms and conditions under the Trust Agreement with Commerzbank AG until April 11, 2011. Upon fulfillment of the Trust Agreement terms and conditions, ARISE said its credit facilities with the Bank will be extended until December 31, 2011.

ARISE has yet to update on the progress of the negotiation.

http://news.techfinance.ca/arise-completes-350000-drawdown-under-cef/

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