Streetlight Intelligence Inc.

Streetlight Intelligence Inc.

October 17, 2005 18:38 ET

Streetlight Intelligence Inc. Announces Proposed $950,000 Private Placement

VICTORIA, BRITISH COLUMBIA--(CCNMatthews - Oct. 17, 2005) - Streetlight Intelligence Inc. (TSX VENTURE:SLQ) (the "Corporation") announced today that is proposes to complete a private placement of up to 1,000,000 common shares of the Corporation at a purchase price of $0.95 per common share. These shares will be subject to a four (4) month hold period from the date of issue. The completion of the private placement is subject to receipt of all regulatory approvals, including approval of the TSX Venture Exchange Inc.

The Corporation may pay a cash commission not exceeding ten (10%) percent of the gross proceeds raised to various finders.

The net proceeds from 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. 24
    Streetlight Intelligence Inc.
    19 - 6782 Veyaness Road
    Victoria, B.C. V8M 2C2