Visionwall Solutions Inc.

Visionwall Solutions Inc.

January 19, 2010 18:08 ET

Visionwall Solutions Inc.: Acquisition of the VISIONWALL® Business

EDMONTON, ALBERTA--(Marketwire - Jan. 19, 2010) - Visionwall Solutions Inc. ("VSI") announces that effective December 22, 2009, VSI acquired the VISIONWALL® business from Visionwall Corporation ("VC") pursuant to the Plan of Compromise and Arrangement approved by creditors of VC under the Companies Creditors' Arrangement Act and sanctioned by order of the Court of Queen's Bench of Alberta on December 21, 2009. Except for certain unaffected creditors, the VISIONWALL® business was acquired free and clear of VC's liabilities. A total of $22,225,258 of debt was converted into common shares of VSI at a value of $1.00 per share. After the retraction of 2,070,530 common shares for a license and prior to any financings, VSI will have 20,154,728 common shares issued and outstanding.

VSI custom engineers and manufactures proprietary energy efficient window and curtain wall systems for use in commercial, institutional, and industrial buildings. A curtain wall is a type of exterior wall system commonly used in high rise buildings. Visionwall's systems can achieve insulating values of approximately R8, which is about four-times greater than conventional products. Buildings that use VISIONWALL® require less energy to heat and cool (reducing CO2 emissions), are more comfortable, quieter, and cost less to construct because of savings from the reduced scale of heating, ventilation, and air conditioning (HVAC) systems. During the past decade Visionwall has emerged as a leading player in the rapidly growing market for energy efficient building envelopes. Employing approximately 90 people, VSI manufactures its products in 100,000 square feet of facilities in Edmonton, Alberta. The capacity of the existing facilities is about $50 million annually.

VSI is poised for significant growth over the coming years. The VISIONWALL® business' revenues were $7.1 million in 2007, $15 million in 2008 and were estimated to be almost $13 million in 2009. Sales in 2009 were lower as a result of the restructuring process. Greg Clarahan, President and C.E.O. of VSI stated, "I am very excited about the opportunity to unleash the growth potential of VISIONWALL® now that the business has been recapitalized in the new company. VSI will be free of the financial constraints that held back its predecessor. We expect to grow annual revenues to the $50 million range over the next three years." Mr. Clarahan added, "There is no doubt that the world is embracing environmentally-friendly, green and sustainable building technologies, and VSI will be at the forefront of this trend in the new decade."

The market for curtain wall and windows for new non-residential buildings in North America exceeds $10 billion annually, and globally the market is estimated to be at least $30 billion each year. Over the next several years, sales of VISIONWALL® products are expected to grow rapidly as the greening of the building industry gathers momentum, propelled by the multi-billion dollar market for new buildings and the developing retrofit (re-skinning market), both of which are demanding more environmentally friendly and energy efficient building technologies. This "clean tech" trend is being supported by governments, consumers and industry.

The officers and directors of VSI are:

Gregory Clarahan, President, C.E.O. and Director

Randy Pederson, Vice President, Finance, C.F.O. and Director

Jan M. Alston, Chairman and Director

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