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Two Mutual Funds Acquire 5.6% Stake in UQM

UQM TECHNOLOGIES, INC. (Amex: UQM), a developer of alternative energy technologies, announced that two mutual funds managed by an institutional investor together have purchased 1,365,188 shares of the Company’s common stock in a private placement transaction. Net cash proceeds to the Company from the transaction were approximately $3,900,000. The common stock offered by UQM Technologies, Inc. to the accredited investors in the private placement has been sold in reliance on an exemption from the registration requirements of the Securities Act of 1933, as amended, (“Securities Act”). The common stock has not been registered under the Securities Act or any state securities laws, and the common stock may not be offered or sold absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy shares in any jurisdiction in which such offer or solicitation is prohibited. A registration statement will be filed with the Securities and Exchange Commission within 30 days for the resale of the common stock. UQM Technologies, Inc. is a developer and manufacturer of power dense, high efficiency electric […]

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Hain Celestial Closes on Poultry Acquisition

The Hain Celestial Group, Inc. (Nasdaq: HAIN), a leading natural and organic food and personal care products company, has completed the acquisition of the poultry processing facility assets of College Hill Poultry of Fredericksburg, PA. It was acquired through Hain Pure Protein Corporation, which is a joint venture with Pegasus Capital Advisors, LP, a private equity firm. Hain Celestial will control 50.1% of the joint venture. College Hill Poultry’s Raised Right(TM) brand of natural and organic, free range chicken are raised on family farms and grain-fed without anti-biotics or animal by-products. The company will be led by Joseph A. DePippo, an industry veteran, as President of Hain Pure Protein Corporation. The Hain Celestial Group (NASDAQ: HAIN – News), headquartered in Melville, NY, is a leading natural and organic beverage, snack, specialty food and personal care products company in North America and Europe. Hain Celestial participates in almost all natural food categories with well-known brands that include Celestial Seasonings, Terra Chips, Garden of Eatin’, Health Valley, WestSoy, Earth’s Best, Arrowhead Mills, Hain Pure Foods, Hollywood, Walnut Acres Organic, Imagine Foods, Rice Dream, Soy Dream, Rosetto, Ethnic Gourmet, Yves Veggie Cuisine, Lima, Biomarch, Grains Noirs, Natumi, JASON and Zia Natural Skincare. Website: […]

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Carmanah Completes Acquisition of Soltek

Carmanah Technologies Corporation (Vancouver:CMH.V) has acquired all the issued and outstanding shares of Soltek Powersource Ltd., a manufacturer/supplier of solar power systems for industrial, government, residential and retail applications. This acquisition joins two complementary companies — Carmanah with its self-contained solar packages and proprietary LED technology, and SPS with its large-scale solar power systems — to form a new company capable of providing solar products internationally. The solar industry grew by an unprecedented 62% in 2004 to $6.5 billion, and is predicted to grow 300% to $18.5 billion by 2010. Carmanah anticipates that a new range of solar/LED general illumination products will be developed, including security lighting, street lighting and sign lighting, for applications in all the markets the Company currently serves. An entirely new product line of standardized “plug-and-play” solar power sources will also be possible, which would capitalize on SPS’s existing range of “solar engines” and Carmanah’s world-leading energy management technology. Carmanah acquired SPS for $12 million. Subject to closing adjustments for working capital, $6 million was paid in cash from existing funds and $4 million equivalent in common shares at $2.66 per share. An additional contingent payment of up to $2 million worth of common shares at […]

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