World Energy Concludes Previously Announced Financing Agreement
22 Janvier 2010 - 9:08PM
PR Newswire (US)
WORCESTER, MA, Jan. 22 /PRNewswire-FirstCall/ -- World Energy
Solutions, Inc. (NASDAQ: XWES; TSX: XWE), an operator of online
exchanges for energy and green commodities, today announced that,
under the previously disclosed financing agreement with Bond
Capital, Ltd. (Bond), affiliates of Bond have purchased an
additional US$150,000 of World Energy's stock at US$2.59 per share.
This brings the total amount raised under this financing agreement
to US$1.4 million. Proceeds 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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