Lonestar Capital Corp.

Lonestar Capital Corp.

March 16, 2009 08:25 ET

Lonestar Capital Corp. to Acquire Light Energy Systems

HOUSTON, TEXAS and VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 16, 2009) - Lonestar Capital Corp. (TSX VENTURE:LON) ("Lonestar" or the "Company"), an emerging aggregator of Solar Energy Integrators, has signed a Letter of Intent to acquire Solar Self Help, Inc. dba Light Energy Systems ("Light Energy Systems") of Concord, California.

Light Energy Systems is a full-service solar energy company founded in 1980 and specializes in the design, installation and maintenance of photovoltaic solar energy, solar water heating, and solar pool heating systems. Duane Campbell is the President of Light Energy Systems.

Under the Letter of Intent, Lonestar would acquire all of the issued and outstanding common shares of Light Energy Systems in exchange for a combination of cash and issuance of stock in Lonestar.

Steve Vella, Chief Operations Officer of Lonestar said, "Bringing Light Energy Systems into the Acro Energy Technologies family of companies will be a win-win for both sides. Light Energy is one of the Bay Area's most experienced solar energy design and contracting firms. Duane Campbell is one of California's PV pioneers."

Harry Fleming, CEO of Lonestar, commented, "The acquisition of Light Energy Systems is the next step in Lonestar's business plan following last month's successful acquisition of Acro. We believe that Light Energy Systems and Acro will build on each other's strengths. This deal is a perfect fit with several other acquisition targets with which we are currently negotiating," added Fleming.

Closing of the acquisition is subject to a number of conditions, including negotiation of a definitive acquisition agreement, completion by Lonestar of a satisfactory due diligence review of Light Energy Systems, receipt of all necessary contractual, regulatory and governmental consents and approvals, the absence of any material adverse change affecting Light Energy Systems, and any necessary approval of the transaction by the appropriate authorities at the TSX Venture Exchange.

About Lonestar Capital Corp.

Lonestar's business plan is focused on the consolidation and growth of renewable energy companies, primarily in the United States solar market. Lonestar through its acquisition of Acro Electric, Inc., a leading California residential solar integrator, has initiated its acquisition campaign in the solar integrator market. Lonestar continues to evaluate suitable acquisition candidates across North America.

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.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

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