Streetlight Intelligence Inc.

Streetlight Intelligence Inc.

August 17, 2006 18:48 ET

Streetlight Intelligence Inc. Announces Closing of Third and Final Tranche of Financing

VICTORIA, BRITISH COLUMBIA--(CCNMatthews - Aug. 17, 2006) - Streetlight Intelligence Inc. (the "Corporation") (TSX VENTURE:SLQ) is pleased to announce that it has completed the third and final tranche of the private placement, previously announced on June 16, 2006, of 187,400 common shares of the Corporation at a purchase price of $1.30 per common share, for gross proceeds of $243,620.00. After closing the third and final tranche, the Corporation received total gross proceeds of $1,912,119.30 from the private placement. The common shares issued pursuant to the third and final tranche of the private placement are subject to a four month hold period expiring on December 16, 2006.

The Corporation paid a cash commission of 7.5% of the gross proceeds in respect of the sale of 175,000 common shares.

The proceeds of the private placement will be used for general working capital.

Streetlight Intelligence Inc. has developed proprietary technology which allows streetlights to be remotely programmed so they are turned on and off or dimmed at specific times delivering significant energy savings. This programmable capability is combined with functionality that reduces maintenance costs. The result is a complete solution that allows power utilities and municipalities to significantly reduce their electrical power consumption as well as their maintenance costs.

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

Contact Information

  • Streetlight Intelligence Inc.
    Martin A. Winstanley
    Vice President
    (250) 544-0147 ext. 224
    Streetlight Intelligence Inc.
    19 - 6782 Veyaness Road
    Victoria, B.C. V8M 2C2