Lonestar Capital Corp.
TSX VENTURE : LON

Lonestar Capital Corp.

May 08, 2009 17:17 ET

Lonestar Capital Corp. Closes Private Placement

HOUSTON, TEXAS and VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 8, 2009) - Lonestar Capital Corp. dba Acro Energy Technologies (TSX VENTURE:LON) (the "Company") announces that it has received TSX Venture Exchange approval to close the $0.255 non-brokered private placement announced on April 7, 2009 (the "Private Placement").

The Company raised gross proceeds of $308,566 from the sale of 1,210,063 units (each, a "Unit") at a price of $0.255 per Unit. Each Unit is comprised of one common share in the capital of the Company and one share purchase warrant. Each share purchase warrant will entitle the holder to acquire one additional common share in the capital of the Company at an exercise price of CDN$0.45 during the first year following the closing of the Private Placement and at a purchase price of CDN$0.55 per share during the second year. The Units are subject to a four-month hold period expiring September 9, 2009.

At the closing, the Company paid a finder's fee of $5,859, plus 23,200 common shares in the capital of the Company to Randy Doherty and $5,100, plus 20,000 common shares in the capital of the Company to Keay Capital. The shares issued to Mr. Doherty and Keay Capital are subject to a hold period expiring on September 9, 2009.

About Lonestar Capital Corp./Acro Energy Technologies

Lonestar, through Acro Energy Technologies, is focused on the consolidation and growth of renewable energy companies, primarily in the United States solar market. Lonestar/Acro Energy Technologies, through its acquisition of Acro Electric, Inc., a leading California residential solar integrator, has initiated its acquisition campaign in the solar integrator market. Lonestar/Acro Energy Technologies continues to evaluate suitable acquisition candidates across North America. Following the May 11, 2009 Annual General Meeting, Lonestar will be changing its name to ACRO ENERGY TECHNOLOGIES CORP. and will trade on the TSX Venture Exchange under the symbol ART.

On Behalf of the Board of Directors,

Douglas A. Samuelson, Executive Vice President

This news release may contain "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The Company assumes no obligation for the accuracy or completeness of those forward looking statements and undertakes no obligation to revise these forward looking statements to reflect subsequent events or circumstances. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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