VANCOUVER, BRITISH COLUMBIA / April 16, 2014 / P2 Solar, Inc. (the "Company" or "P2") (PTOS) is pleased to announce the recent completion of certain financing required for the development of its Punjab small hydro projects.
The Company closed financing required for Punjab small hydro project expenses during the past four months, amounting to $240,000. This financing was comprised of $200,000 convertible notes with a conversion price to be negotiated at a future date. The balance of the financing was comprised of $40,000 in an equity private placement. The funds have been deployed towards project expenses.
Raj-Mohinder Gurm, CEO, said, "This financing demonstrates that key investors have confidence in our projects and the ability of our team to execute." The Company intends to continue to focus on its projects and capital raising plans in the immediate future and feels confident that it will bring its Punjab small hydro projects to operational status as planned.
Safe Harbor Statement
Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, managing growth, and political and other business risks. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks and other factors detailed in P2 Solar, Inc.'s reports filed with the Securities and Exchange Commission. P2 Solar, Inc. undertakes no duty to update these forward-looking statements.
Investor Relations Contact:
P2 Solar, Inc.
Release ID: 40715