China Solar & Clean Energy Solutions, Inc. Closed Financing to Raise $11.3 Million in Private Placement
04 March 2008 - 1:34AM
PR Newswire (US)
LOS ANGELES and BEIJING, March 3 /Xinhua-PRNewswire-FirstCall/ --
China Solar & Clean Energy Solutions, Inc. (OTC:CSOL) (BULLETIN
BOARD: CSOL) (the "Company"), a premier manufacturer and
distributor of solar water heaters, space heating devices and
renewable energy solutions in the People's Republic of China (the
"PRC"), today announced that on February 29, 2008 it closed its
recently announced financing, issuing approximately 4.7 million
shares of common stock at a purchase price of $2.40 per share, for
gross proceeds of approximately US$11.3 million. For more detailed
information on the financing referred to in this release, reference
is made to the Company's Current Report on Form 8-K filed on
February 26, 2008. About China Solar & Clean Energy Solutions,
Inc. China Solar & Clean Energy Solutions, Inc. operates
through its wholly owned subsidiaries Bazhou Deli Solar Heating
Energy Co. Ltd., Beijing Deli Solar Technology Development Co.,
Ltd. and its 51% ownership in Tianjin Huaneng Energy Equipment
Company, all of which are located in the PRC. The Company
manufactures and distributes hot water and space heating devices to
customers in the PRC, in addition to waste heat recovery systems.
For more information, please visit http://www.cn-cse.com/ . Safe
Harbor Statement: Certain statements in this news release may
contain forward-looking information about China Solar & Clean
Energy Solutions, Inc. and its subsidiaries' business and products
within the meaning of Rule 175 under the Securities Act of 1933 and
Rule 3b-6 under the Securities Exchange Act of 1934, and are
subject to the safe harbor created by those rules. The actual
results may differ materially depending on a number of risk factors
including, but not limited to, the general economic and business
conditions in the PRC, market and customer acceptance and demand
for products, ability to market products, fluctuations in foreign
currency markets, the use of estimates in the preparation of
financial statements, the impact of competitive products and
pricing, the ability to develop and launch new products on a timely
basis, the regulatory environment, fluctuations in operating
results, and various other factors beyond its control. All
forward-looking statements are expressly qualified in their
entirety by this Cautionary Statement and the risks factors
detailed in the Company's reports filed with the Securities and
Exchange Commission. China Solar & Clean Energy Solutions, Inc.
undertakes no duty to revise or update any forward-looking
statements to reflect events or circumstances after the date of
this release. For more information, please contact: Matthew Hayden
HC International, Inc. Tel: +1-858-704-5065 Email: DATASOURCE:
China Solar & Clean Energy Solutions, Inc. CONTACT: Matthew
Hayden of HC International, Inc. at +1-858-704-5065 or , for China
Solar & Clean Energy Solutions, Inc. Web site:
http://www.cn-cse.com/
Copyright