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SonnenEnergy Announces Shares for Debt Transaction and Confirmation of Annual and Special Meeting Location
TORONTO, Oct. 21 /CNW/ - SonnenEnergy Corp. (the "Corporation") (TSX-V: PWR), a leading photovolt...
About this update from Captiva Verde Wellness Corp
[{"type":"text","content":"\n\n\n\nTORONTO, Oct. 21 /CNW/ - SonnenEnergy Corp. (the "Corporation") (TSX-V:\nPWR), a leading photovoltaic solar power systems integrator and solar power\nproducer, today announced that it intends to satisfy certain trade and other\naccount liabilities through the issuance of common shares ("Common Shares") of\nthe Corporation (the "Shares for Debt Transaction").\n\n\nThe Board of Directors of the Corporation has resolved to satisfy up to\n$1,000,000 of outstanding trade and other account liabilities owed by the\nCorporation and SonnenEnergie GmbH, a wholly-owned subsidiary of the\nCorporation, to various creditors ("Creditors") through the issuance of Common\nShares at a price of $0.05 per share. The issuance of such Common Shares could\nresult in up to 20,000,000 additional Common Shares being issued from\ntreasury.\n\n\nThe Shares for Debt Transaction is subject to, among other things, (i)\nreaching definitive agreements with Creditors; (ii) approval of the Shares for\nDebt Transaction by the TSX Venture Exchange (TSX-V); and (iii) compliance\nwith applicable securities laws.\n\n\nAnnual and Special Meeting\n\n\nThe Corporation would also like to confirm that its Annual and Special\nMeeting of Shareholders will be held at the offices of Fraser Milner Casgrain\nLLP, 1 First Canadian Place, 39th Floor, 100 King Street West, Toronto,\nOntario on Monday, October 27, 2008 at 4:00 p.m. and not at the offices of\nCassels Brock & Blackwell LLP as previously announced on October 9, 2008.\n\n\nAbout SonnenEnergy\n\n\nSonnenEnergy is a solar power systems integrator and solar power\nproducer. The company markets, sells, designs, installs, operates, and\nmaintains grid-connected solar power systems and, since 2004, has installed\nmore than 160 photovoltaic (PV) solar power systems for commercial and\nresidential customers. The company also operates solar power plants in\nsouthern Germany, which have total installed capacity of more than 5,000 kWp.\nSonnenEnergy's corporate offices are located in Toronto, Ontario and its\nEuropean operations are based in Polling, Germany, with a sales office in\nItaly. For more information, please visit SonnenEnergy's website at\nwww.sonnenenergy.com.\n\n\nForward-Looking Statements\n\n\nForward-looking statements in this news release are based on current\nex...