HLT Energies Inc. Announces the Acquisition of a Belgian Technology Related to Non-Conventional Multi Energy Towers
19 November 2007 - 11:30PM
Marketwired
MONTREAL, QUEBEC (TSX VENTURE: HES) announces the acquisition of
a Belgian technology related to non-conventional multi energy (wind
turbine, hydraulic, thermal solar and photovoltaic) towers known as
F.I.M.E.S. (Fully Integrated Multi Energy Systems) November 16,
2007 (the "Closing Date").
These towers, unlike conventional wind turbines, do not possess
a large mast nor have large propellers and are noiseless. In fact,
the F.I.M.E.S. is composed of stackable modules each of which
possesses two turbines with small diameter rotors. The turbines
orient themselves in the wind direction and the tower design
amplifies the wind speed.
The esthetic of the F.I.M.E.S. blends in naturally into the
environment and furthermore, because of its technology, it operates
at a very low noise level (18 dba /1 meter). Contrary to a
conventional wind turbine, a F.I.M.E.S. does not require energy for
its operations. Therefore, all the energy generated is directed to
the customer.
HLT acquisition price consist of:
(i) 250,000 common shares of HLT issued on the Closing Date at
the closing price of the common shares of HLT on the day preceding
the date of their issue.;
ii) 250,000 warrants of HLT issued on the Closing Date, each
warrant having a two year term and entitling the warrantholder to
acquire one common share of HLT, after the regulatory hold period
and subject to the achievement of a milestone in relation to the
development of the above-described technology (the "Milestone"),
with the exercise price being that of the market price of the
common shares of HLT on the date of the issuance of the
warrants;
(iii) 500,000 stock options of HLT to be granted May 31, 2008,
subject to the achievement of the Milestone, each stock option
having a five year term from the date of issuance and 1/12 of the
total stock options granted vesting on a quarterly basis from the
date of their grant. The exercise price of the stock options will
be that of the market price of the common shares of HLT on the day
prior to the grant of the stock options;
(iv) 750,000 stock options to be granted twelve months from the
Closing Date, with an additional grant of 750,000 stock options
twenty-four months from the Closing Date, both such grants subject
to the achievement of the Milestone, each stock option having a
term, vesting schedule and exercise price as described above.
This transaction is subject to regulatory approvals, as well as
regulatory and disinterested shareholder approvals in relation to
the amendment of the stock option plan of HLT.
According to Gerald Desourdy, President and Chief Executive
Officer: "following this acquisition, HLT enlarges its portfolio of
products and strategically positions itself on the international
market".
In addition, HLT announces the acquisition of ITER s.p.r.l.
("ITER"). HLT signed an agreement on October 1, 2007 for the
acquisition of 100% of the shares of ITER at a price of 120 000
euros. The non-audited financial information of this private
Belgian company shows a net book value of 100 000 euros composed
mostly of short term investments. All future European operations of
sale of energy from the multi energy towers will be carried out
through this subsidiary.
Finally, HLT would like to rectify certain facts announced in
its press release dated September 19, 2007 issued in connection
with its participation in the creation of a Belgian company,
Ekowatt s.a. HLT, Ecotech Finance and Watt Engineering entered into
a verbal agreement to form Ekowatt s.a. which agreement will be
formalized on or around December 4, 2007. Each of HLT, Ecotech
Finance and Watt Engineering will hold a 1/3 interest in the share
capital of Ekowatt s.a. The creation of Ekowatt s.a. is scheduled
for December 4, 2007.
About HLT
HLT is an important provider of renewable energies as well as
renewable energy systems harnessing sustainable energy sources
(wind, solar thermal and solar photovoltaic). HLT installs,
operates, maintains and sells renewable energy systems to its
clients.
HLT is a leader in the production and sale of sustainable
energies at lower cost than conventional sources to residential,
commercial, industrial and institutional customers. By adding the
residential product, the multi energy towers F.I.M.E.S and and the
cumulating experience in solar photovoltaic, solar thermal and
combination solutions of Ekowatt to its current products, HLT
enlarges its portfolio of products and is now able to completely
cover the renewable energies market, from institutional and
commercial clients to residential clients.
FORWARD LOOKING STATEMENTS
This press release contains certain forward looking statements
with respect to HLT. Such forward looking statements are dependent
upon certain factors and are subject to risks and uncertainties.
Actual results may differ from those expected. The information
contained in this press release is dated November 16, 2007, the
date of its approval by Management. Management does not assume any
obligation to update or revise any forward looking statements,
whether as a result of new information or future events, except
when required by the regulatory authorities.
The exchange does not accept responsibility for the adequacy or
accuracy of this release.
Contacts: HLT Energies Inc. Gerald Desourdy President & CEO
514-868-1111 (x 222) g.desourdy@hltenergies.com HLT Energies Inc.
Andre Audet Chairman of the Board 514-284-1004
aaudet@bromeinc.com
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