Lonestar Capital Corp.
TSX VENTURE : LON

Lonestar Capital Corp.

April 07, 2009 17:51 ET

Lonestar Capital Corp. dba Acro Energy Technologies Announces Private Placements

HOUSTON, TEXAS and VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 7, 2009) - Lonestar Capital Corp. dba Acro Energy Technologies (TSX VENTURE:LON) (the "Company") announces that, subject to the approval of the TSX Venture Exchange, it has arranged a non-brokered private placement (the "Private Placement") of approximately 2,200,000 units (the "Units") at a price of CDN $0.225 per Unit, for aggregate gross proceeds of approximately CDN $500,000. Each Unit is composed of one common share in the Company and one share purchase warrant (the "Warrants"). Each Warrant will entitle the holder to purchase one additional share of the Company at a price of CDN $0.45 per Share for a period of one year following the closing of the Private Placement. The shares issued in connection with this non-brokered private placement will be subject to a four-month hold period. The Company intends to pay finders' fees where appropriate.

Due to the over-subscription of the original Private Placement, the Company announces that, subject to the approval of the TSX Venture Exchange, it has arranged a second non-brokered private placement (the "Second Private Placement") of approximately 1,176,000 units (the "Units") at a price of CDN $0.255 per Unit, for aggregate gross proceeds of approximately CDN $300,000. Each Unit is composed of one common share in the Company and one share purchase warrant (the "Warrants"). Each Warrant will entitle the holder to purchase one Share of the Company at a price of CDN $0.45 per Share for a period of one year following the closing of the Second Private Placement and at a price of CDN $0.55 per Share during the second year following the closing of the Second Private Placement. The shares issued in connection with the Second Private Placement will be subject to a four-month hold period. The Company intends to pay finders' fees where appropriate.

The Company intends to utilize the proceeds from both non-brokered private placements for ongoing identification and investigation of suitable acquisition targets and for general corporate overhead purposes.

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.

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 these 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.

Contact Information