Lonestar Capital Corp.

Lonestar Capital Corp.

March 04, 2009 19:04 ET

Solar Integrator Lonestar Capital Corp. Strengthens Management Team to Further Enable Business Plan Execution

HOUSTON, TEXAS and VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2009) - Lonestar Capital Corporation (TSX VENTURE:LON) ("Lonestar" or the "Company"), an emerging aggregator of Solar Power Integrators, is pleased to announce that it has named Brad Kovnat as Director, Business Operations.

Mr. Kovnat previously served as Vice President of Business Development for Northstar Healthcare, Inc. (TSX:NHC) and was responsible for the company's daily operations including personnel, finance, accounting, information technology, systems development and facilities operations.

At Lonestar, Mr. Kovnat will be responsible for integrating acquired companies, implementing and streamlining efficiencies of scale, as well as evaluating and coordinating potential acquisition candidates. Mr. Kovnat's broad depth of knowledge on the implementation of innovative reporting systems and processes will be of great value to the Company as it moves forward with its strategic business plan to acquire numerous Solar Power Integrators analogous to Acro Electric, Inc. (announced February 23, 2009).

In addition to impressive business credentials, Mr. Kovnat holds a Bachelor of Arts degree from Hofstra University and a Master of Business Administration degree from the Graziadio School of Business and Management at Pepperdine University.

Harry Fleming, CEO of Lonestar, commented, "Mr. Kovnat will be a key player in implementing not only Lonestar's acquisition strategy but also the integration strategy that will be the cornerstone of our long term success. Brad's unique set of competencies will also compliment the experience and background of our other Directors and executives," added Fleming.

On March 3, 2009, the Company granted to Mr. Kovnat an option to purchase 50,000 shares at an exercise price of CDN$0.34, the Discounted Market Price on the date of grant, with such options vesting 50% on February 13, 2010 and 50% on February 13, 2011 and expiring on March 2, 2014.

On February 23, 2009, in conjunction with the Company's closing of its Qualifying Transaction, the Company granted to Steven J. Vella and five employees of Acro (the "Acro Employees") options to purchase a total of 250,000 Shares in accordance with Lonestar's Stock Option Plan at an exercise price of CDN$0.78, a CDN$0.07 discount from the last daily closing price, with 50% of such options to vest six months from the date of the acquisition agreement with Lonestar and the remaining 50% to vest on the first anniversary of the acquisition agreement. The options to the Acro Employees expire on January 1, 2011.

On February 23, 2009, the Company granted options to Harry J. Fleming and Douglas A. Samuelson options to purchase 150,000 and 125,000 shares respectively, at an exercise price of CDN$0.68, the Discounted Market Price on the date of grant, with such options vesting immediately upon issuance and expiring on February 23, 2014.

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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