SOURCE: Solargy Systems Inc.

December 08, 2009 08:30 ET

Solargy Systems Inc. Retains Investment Bank to Prepare 144a Offering

FT. LAUDERDALE, FL--(Marketwire - December 8, 2009) - Solargy Systems Inc. (PINKSHEETS: SLGS) has announced the company has signed an engagement agreement with CGI Capital Holdings, a US investment bank. CGI will advise Solargy on various funding options and prepare a 144a bond offering.

C M Nurse noted, "In the last several months we have been reviewing proposals from various entities and we have selected CGI, based on their familiarity with government programs in the alternative energy sector as well as their contacts in the capital markets. We believe that CGI will be able to successfully place the bond offering for us.

"The basic structure of the 144a effort will be a secured bond offering, using the term sheets and executed power purchase agreements we have in place already. The thirty (30) % tax incentive being offered by the federal Government as part of the Stimulus package enacted this past summer will be used as equity in the offering. We hope that we can have the offering prepared and ready for market by early 2010."

Solargy Systems Inc. is a systems integrator of alternative energy technologies.

This press release contains "forward-looking" statements as that term is defined by Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"). All statements that are included in this press release other than statements of historical fact are "forward-looking" statements. Although Solargy Systems Inc. believes that the expectations reflecting in these forward-looking statements are reasonable, it can give no assurance that such expectations will materialize. Important factors could cause actual results to differ materially from the expectations as disclosed herein, including without limitation, in conjunction with these forward-looking statements contained in this press release.

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