Streetlight Intelligence Inc.

Streetlight Intelligence Inc.

March 13, 2008 18:37 ET

Streetlight Intelligence Inc. Announces Closing of Private Placement

VICTORIA, BRITISH COLUMBIA--(Marketwire - March 13, 2008) - Streetlight Intelligence Inc. ("STI" or the "Corporation") (TSX VENTURE:SLQ) announces that further to its news release dated February 12, 2008, related to a proposed $5,000,000 equity offering, the Corporation has completed the issuance of 26,097,450 common shares of the Corporation for aggregate proceeds of $4,175,592. After closing this second and final tranche, the Corporation received total gross proceeds of $5,000,000 from the private placement. These common shares are subject to a four month hold period expiring on July 13, 2008.

The Corporation paid a total commission of $56,000 in connection with the second and final tranche of the private placement. There are 62,780,630 common shares of the Corporation issued and outstanding after completion of the private placement.

As certain officers and directors, or their affiliates, subscribed for 1,188,750 common shares under the private placement, the private placement will be classified as a "related party transaction" pursuant to the policies of the TSX Venture Exchange and Multilateral Instrument 61-101. The directors and officers that subscribed for common shares under the private placement include Lee S. Richardson, Vince Krynski and affiliates of Donald A. Cleland and Martin A. Winstanley.

In addition, the Corporation announces that Enmax Corporation, of Calgary, Alberta, a large Canadian energy and utility company, has acquired 11,562,500 common shares pursuant to the private placement. On a post-closing basis, Enmax owns approximately 18.4% of the issued and outstanding common shares of the Corporation.

The net proceeds from the private placement will be used for debt reduction, completion of current contracts, sales and marketing, development and other general working capital purposes.

Streetlight Intelligence Inc. is a public company listed on the TSX Venture Exchange (trading symbol: SLQ). STI designs, manufactures and markets products and services for the street light industry. STI's proprietary Lumen IQ™ technology allows street lights to be remotely turned on/off or dimmed at specified times, which results in significant energy savings and reductions in greenhouse gas emissions and light pollution. The Lumen IQ™ network also immediately identifies malfunctioning street lights allowing substantial maintenance cost savings. For more information, access

This News Release may contain certain forward-looking statements that involve substantial know and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond STI's control, including: the impact of general economic conditions in Canada and in countries in which STI and its subsidiaries currently do business, industry conditions, increased competition, the lack of available qualifies personnel or management, equipment failures, fluctuations in product prices and in foreign exchange or interest rates and stock market volatility. STI's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, of if any of them do so, what benefits STI will derive there from.

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

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