Attached files
| file | filename |
|---|---|
| EX-4.1 - Vu1 CORP | v210393_ex4-1.htm |
| EX-10.1 - Vu1 CORP | v210393_ex10-1.htm |
| EX-10.2 - Vu1 CORP | v210393_ex10-2.htm |
| 8-K - Vu1 CORP | v210393_8k.htm |
EXHIBIT
99.1
FOR IMMEDIATE
RELEASE
Vu1
Corporation to Raise $2.2 Million in Private Placement Transaction to Accelerate
the Manufacture of the Company’s Electron Stimulated Luminescence™ Lighting
Technology
NEW YORK
- Feb. 4, 2010 - Vu1 Corporation (OTCBB: VUOC), a developer and manufacturer of
mercury-free, energy-efficient general illumination lighting technology, today
announced that it has entered into definitive agreements with
institutional investors to purchase $2.2 million of securities in a private
placement transaction. Under the terms of the transaction Vu1 has
agreed to sell an aggregate of approximately 4.9 million shares of its common
stock at $0.45 per share and warrants to purchase up to approximately 4.9
million additional shares of its common stock. The warrants to purchase
additional shares will be exercisable at an exercise price of $0.60 per share
and will expire five years from the closing date.
“These
proceeds will allow Vu1 to scale up its manufacturing capabilities to meet the
anticipated growing demand for our lighting products,” commented William B.
Smith, Chairman. “I am delighted that Vu1’s disruptive lighting
technology has been positively endorsed by the institutional investment
community; with a further strengthened balance sheet, Vu1 can focus on
continuing to deliver against its strategic plan, while reviewing its options
for supporting its longer-term growth ambitions.”
This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy securities. The securities offered and sold in the private
placement have not been registered under the Securities Act of 1933, as amended,
or any state securities laws, and may not be offered or sold in the United
States absent registration, or an applicable exemption from registration under
the Securities Act and applicable state securities laws. The offering is
expected to be consummated by February 8, 2011, subject to customary closing
conditions.
Rodman
& Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc.
(NASDAQ: RODM), acted as the exclusive placement agent for the
transaction.
About
Vu1 Corporation
New York
City-based Vu1 Corporation is dedicated to applying its technology to produce
energy efficient, environmentally friendly lighting solutions worldwide. Vu1 has
developed a new energy efficient light bulb to provide the consumer market with
the first affordable, non-toxic light bulb with features consumers are demanding
and not receiving from existing products. Learn more about Vu1 at www.Vu1.com.
For the latest news, find Vu1 on Facebook and follow us on Twitter.
For
investor inquiries, please contact Ian Bailey at (212) 359-9587 or Michael
Polyviou at (913) 789-9978. For product enquiries, please contact: Integrated
Sales Solutions at (678) 385-5385.
Safe
Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This press release includes forward-looking statements including, but not
limited to, our ability to obtain future funding required for our operations,
the future demonstration and commercial availability of our light bulb, timing
for bulb production and sales, manufacturing capability of our facility, future
interest of channel partners and distributors, our strategic planning and
business development plans, future applications of the technology, and the
viability, pricing and acceptance of our products in the market. These
forward-looking statements are subject to a number of risks and uncertainties
that may cause actual results to differ materially from those described in the
forward-looking statements. The words "may," "would," "will," "expect,"
"estimate," "anticipate," "believe," "intend" and similar expressions
and variations thereof are intended to identify forward-looking statements.
Investors are cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and uncertainties, many of
which are beyond the company's ability to control, as well as the risks and
other factors set forth in our periodic filings with the U.S. Securities and
Exchange Commission (including our Form 10-K for the year ended December 31,
2009 and our other periodic reports as filed from time to time).
#
# #