Stockhouse.com: Taking it to the street
Latest Broadcasts
T.GPR
Natural Resources
V.ARD
Technology-Internet
T.FR
Natural Resources
V.AIX
Natural Resources.
OMCY
Internet/Technology
V.KTN
Natural Resources, Metals and Mining
An excellent place to start your search for new investments!
World Energy Announces New Financing of up to US$2.5 Million
WORLD ENERGY SOLU INC XWE
11/5/2009 7:01:00 AM
WORCESTER, MA, Nov. 5, 2009 (Canada NewsWire via COMTEX News Network) --

World Energy Solutions, Inc. (NASDAQ: XWES; TSX: XWE), an operator of online exchanges for energy and green commodities, today announced it has entered into an agreement with Bond Capital, Ltd. (Bond), a strategic partner of the Company, for the purchase of up to US$2.5 million of Company common stock.

Pursuant to the agreement, the purchasing entity, an affiliate of Bond, will acquire US$1.0 million of World Energy's common stock at US$2.97 per share. World Energy has agreed to offer the additional US$1.5 million in Company shares on the same terms to Bond or its designee - with price to be determined at the time of investment - through December 31, 2009.

Proceeds from the transaction will be used for general corporate purposes, including supporting the Company's growth initiatives.

About World Energy Solutions, Inc.

World Energy (NASDAQ: XWES; TSX: XWE) operates online exchanges for energy and green commodities. For buyers and sellers of electricity, natural gas, capacity, and green-energy assets who are impacted by today's volatile markets, World Energy's proven approach has transformed the normally complex procurement process into a powerful, streamlined vehicle for cost savings. In addition to enabling customers to seek competitive pricing on traditional energy commodities, World Energy is taking a leadership position in the emerging environmental-commodities markets. Its award-winning World Green Exchange(R) supports the ground-breaking Regional Greenhouse Gas Initiative's (RGGI) cap and trade program for CO2 emissions. For more information, please visit www.worldenergy.com.

This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to: our revenue is dependent on actual future energy purchases pursuant to completed procurements; the demand for our services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; we depend on a small number of key energy consumers, suppliers and channel partners; there are factors outside our control that affect transaction volume in the electricity market; our plans to draw against our credit facility and beliefs with respect to cash flow; and there are other factors identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.

SOURCE: World Energy Solutions, Inc.

Investor Relations, Jim Parslow, World Energy Solutions, Inc., (508) 459-8100, jparslow@worldenergy.com; or Craig Armitage, The Equicom Group, (416) 815-0700 x278, carmitage@equicomgroup.com; Media Relations, Dan Mees, World Energy Solutions, Inc., (508) 459-8156, dmees@worldenergy.com

Copyright (C) 2009 CNW Group. All rights reserved.
print
 
 
 
 
 
Today's Feature  
 
ARMADA DATA CORP
Armada Data Corp. is a profitable web-enabled Automobile Information Services Company providing accurate and real-time pricing data, to institutional and retail customers on a fee-for-service basis, through developing, owning and operating automotive related websites and providing information services to its clients. Armada Data Corp shares are listed on the TSX Venture exchange under the trading Symbol ARD. Armada has 13,598,831 shares outstanding. ....................