Solar Night Industries Inc. Announces $1 Million Financing Commitment
06 July 2006 - 6:00AM
Business Wire
Solar Night Industries, Inc. (OTC Pink Sheets: SLND), a solar
solutions company for consumers, commercial, industrial and
governmental customers, announced today that it has entered into a
$1 million financing agreement in the form of callable secured
convertible notes, from various accredited and institutional
investors. The financing includes a funding of an aggregate amount
of $500,000 upon the entry into the financing agreement, and an
additional funding of $200,000 and $300,000 to be provided upon the
satisfaction of certain conditions pursuant to the requirements of
the Registration Rights Agreement. The 6% notes have a three year
term and are convertible into common stock. The Investment will
enable Solar Night Industries to move forward on its strategic plan
to identify and source the best of class solar technology from its
worldwide network and to bring new and innovative products to the
American consumer. "We are pleased that the institutional investors
have decided to provide Solar Night Industries with $1 million to
enable us to build on our strategic plan to provide customers with
what management believes to be innovative and cutting edge Solar
Products and Technology," stated Jason Loyet, President of Solar
Night Industries. "By extending this opportunity to Solar Night
Industries, the institutional investors have shown their confidence
in the future of Solar Night Industries and its management as well
as our ability to keep the company's place in the ever expanding
solar sector of the alternative energy industry." About Solar Night
Industries, Inc. Solar Night Industries, Inc., based in St. Louis,
Missouri (USA), is a global manufacturer and distributor of
innovative solar products. The company was founded by technology,
manufacturing, and sales executives with extensive industry
experience and proven track records of success. The company has
operations in St. Louis, Missouri and Sarasota, Florida, with
affiliate offices in Mainland China. The company is developing
products for consumer, business, and government markets. For more
information, please 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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