World Energy Extends Financing Agreement
05 Janvier 2010 - 11:00PM
PR Newswire (US)
Additional $250,000 Investment Completed WORCESTER, MA, Jan. 5
/PRNewswire-FirstCall/ -- World Energy Solutions, Inc. (NASDAQ:
XWES; TSX: XWE), an operator of online exchanges for energy and
green commodities, today announced it has granted Bond Capital,
Ltd. (Bond) an extension, until January 15, 2010, to complete the
final tranche of the previously announced purchase of up to $2.5
million of World Energy common stock. Pursuant to the agreement,
the purchasing entity, an affiliate of Bond, acquired $1.0 million
of World Energy's common stock at US$2.97 per share on November 5,
2009. On January 4, 2010, an affiliate of Bond purchased an
additional $250,000 of World Energy's stock at US$2.65 per share.
World Energy has agreed to extend its previous offer to Bond or its
designee to purchase up to an additional US$1.25 million of World
Energy common stock until January 15, 2010, with the price per
share to be determined at the time of investment. 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
http://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. DATASOURCE:
World Energy Solutions, Inc. CONTACT: Investor Relations, Jim
Parslow, World Energy Solutions, Inc., (508) 459-8100, or Craig
Armitage, The Equicom Group, (416) 815-0700 x278, ; Media
Relations, Dan Mees, World Energy Solutions, Inc., (508) 459-8156,
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