Lonestar Capital Corp.
TSX VENTURE : LON.P

Lonestar Capital Corp.

July 08, 2008 11:29 ET

Lonestar Capital Corp. to Acquire Two Leading California Solar Power Companies

HOUSTON, TEXAS and VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 8, 2008) - Lonestar Capital Corporation (TSX VENTURE:LON.P) ("Lonestar" or the "Company") is pleased to announce that it has entered into agreements to acquire two leading California solar power companies.

Effective June 29, 2008, Acro Energy Technologies, LLC, a Texas limited liability company and wholly owned subsidiary of Lonestar ("Acro Energy Technologies") entered into a Stock Purchase Agreement (the "Acro Agreement") to acquire all of the issued and outstanding common shares of Acro Electric, Inc. ("Acro") in exchange for a combination of cash and issuance of common shares in the capital of the Company (the "Acro Acquisition").

Effective July 3, 2008, Lonestar, through Acro Energy Technologies, entered into a Stock Purchase Agreement (the "NextEnergy Agreement") to acquire all of the issued and outstanding common and preferred shares of NextEnergy Corp. ("NextEnergy") in exchange for a combination of cash and issuance of common shares in the capital of the Company (the "NextEnergy Acquisition").

Acro and NextEnergy are full service solar integrators specializing in the installation of residential and commercial photovoltaic (PV) solar energy systems. Acro is headquartered in Oakdale, California. NextEnergy's headquarters are in Concord, California. Steven Vella is the President of Acro. Randy Kauffman is the President of NextEnergy. Upon completion of the Acro Acquisition and NextEnergy Acquisition, Mr. Vella will become Chief Operating Officer and Mr. Kauffman will become Vice President - Sales of Acro Energy Technologies.

The Acro and NextEnergy Acquisitions will constitute a "Qualifying Transaction" for the Company as such term is defined in the policies of the TSX Venture Exchange Inc. (the "Exchange").

Acro and NextEnergy are both at arm's length to the Company and the proposed Qualifying Transaction is therefore not a "Non Arms Length Qualifying Transaction" as defined by Exchange Policy 2.4 - Capital Pool Companies (the "CPC Policy"). The Acro Acquisition and NextEnergy Acquisition were negotiated as and are being completed as arm's length transactions.

The company is in the process of preparing a comprehensive press release for review by the exchange.

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.

This press release contains forward looking statements. Forward-looking statements are subject to risks, uncertainties and assumptions. Although the directors of the Company believe that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Some of the factors and risks which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements contained herein include the impact of general economic conditions, industry conditions, government regulation, environmental risks, competition from other industry participants, stock market volatility, the ability to access sufficient capital from internal and external sources. A full description of these risks and uncertainties with regards to a capital pool company can be found in the Company's prospectus dated February 28, 2008 which is available electronically at www.sedar.com.

The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included herein are made as of the date hereof and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise.

About Lonestar Capital Corp.

Lonestar is a capital pool company listed on the TSX Venture Exchange. The principal business of Lonestar is the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction. The Company has not commenced commercial operations and has no assets other than cash.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

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