OPEL Solar International Inc.
TSX VENTURE : OPL

OPEL Solar International Inc.

February 24, 2011 23:06 ET

OPEL Files Amended MD&A on SEDAR

SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - Feb. 24, 2011) - OPEL Solar International Inc. (TSX VENTURE:OPL) ("OPEL" or "the Company"), announces that following the refilling of its amended MD&A on February 17, the Company was asked by the Ontario Securities Commission to include the following additional information to the restated MD&A:

  • Discussion and analysis of current quarter and year-to-date results, on a segmented basis, with comparison of results of operations and cash flows to the corresponding period in the previous year.
  • Under summary of Quarterly Results, a discussion of the factors having caused variations over the eight most recent quarters to understand general trends and the seasonality of the business, on a segmented basis.
  • Quantification of the expenditures on significant projects with an explanation as to how they relate to the anticipated timing and costs to take the project to the next stage and with the specific risks and uncertainties relating to the Company, the potential impact of those risks and uncertainties and the plan to mitigate those risks.

The restatements do not impact the balance sheet, comprehensive income statement or statement of cash flows of the Company as previously filed.

The restated MD&A has been filed on SEDAR and is available for review at www.sedar.com and on the Company's website.

About OPEL Solar International Inc.

With operations headquartered in Shelton, CT and the head office in Toronto, Ontario, Canada, the Company, through OPEL Solar Inc., designs, manufactures and markets high performance concentrating photovoltaic ("HCPV") panels to transform solar energy into electricity for worldwide application. OPEL's high performance photovoltaic concentrating panels generate up to 40% more kilowatt-hours than conventional flat plate silicon solar panels, resulting in more cost effective electricity generated from the sun. OPEL Solar also markets a complete line of dual and single axis solar trackers to mount either HCPV or flat solar panels for the optimum power output. The Company, through ODIS Inc., a U.S. company, designs infrared sensor type products for military, consumer, industrial and commercial applications. ODIS continues to develop gallium arsenide-based processes and semi-conductor microchip products having several potential major market applications: infrared sensor arrays for Homeland Security monitoring and imaging along with the unique combination of optical lasers, and electronic control circuits on the same microchip for potential applications in various military programs and potentially telecom for, Fiber to The Home.

A leader in gallium arsenide and solar concentrating photovoltaic technology, the Company has been awarded 33 patents and has 17 more patents pending. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL". For more information about OPEL, please visit the Company's website at www.opelinc.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Michel Lafrance, Secretary

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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