Eminence Capital I Inc.

April 05, 2007 14:38 ET

Eminence Capital I Inc. Announces Executed Letter Agreement

TORONTO, ONTARIO--(CCNMatthews - April 5, 2007) - Eminence Capital I Inc. (TSX VENTURE:ECI.P) (the "Corporation"), a Capital Pool Company, announced today that it has entered into a letter agreement concerning the acquisition of SonnenEnergie GmbH ("SonnenEnergie"). The acquisition, if completed, will constitute the Corporation's capital pool qualifying transaction pursuant to the policies of the TSX Venture Exchange Inc. (the "Exchange").

The proposed $11,000,000 acquisition price will be satisfied by the issuance of approximately 27,500,000 common shares of the Corporation at a deemed value of $0.40 per share. In addition, a brokered equity financing of up to $6,000,000 is proposed to close concurrently with the closing of the qualifying transaction. The Corporation's name will be changed to SonnenEnergy Corp. at that time.

Completion of the transaction is subject to a number of matters, including, but not limited to the negotiation and signing of a definitive agreement, satisfactory completion of due diligence, board and other requisite approvals, the execution of employment agreements for all key personnel and the satisfaction of the minimum listing requirements of the Exchange and Exchange approval. There can be no assurance that the transaction will be completed.

SonnenEnergie is a photovoltaic solar systems integrator and solar power producer based in Polling, Germany. All of the assets of SonnenEnergie are located in Germany and the company has no subsidiaries. SonnenEnergie markets, sells, designs, installs, and maintains photovoltaic solar power systems for residential and commercial customers in southern Germany. To date, SonnenEnergie has installed over 4,000 kWp of photovoltaic solar power systems, including three solar power plants that it has built and maintains for commercial customers and one solar park that it owns and operates. Further information about SonnenEnergie is available on its corporate website, www.sonnen-energie.net.

The transaction is an arm's length transaction. Further details of the proposed transaction will be announced as/when available.

Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared by connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this press release.

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