FORT WORTH, Texas, Dec. 30, 2004 (PRIMEZONE) -- Catalyst Lighting Group, Inc. (OTCBB:CYSL) ("Catalyst" or the "Company") announced today that it has extended its private placement offering of units through January 24, 2005. The Company also announced that this offering now has no minimum requirement prior to holding an initial closing, which was held as of December 10, 2004 with respect to a $50,000 investment. Each unit ("Unit") consists of the Company's common stock, as well as five year warrants to purchase Company common stock at an exercise price of $3.00 per share.
The Company intends to utilize any proceeds of the private placement to fund the retirement of a significant portion of its subordinated debt, to finance the growth of the Company's business expansion, including by way of acquisitions, fund product development and general working capital. In connection with the private placement, the Company is expected to agree, subject to certain terms and conditions, to file a registration statement under the Securities Act of 1933, as amended (the "Securities Act") covering the resale of all Company common stock sold in the offering, as well as all common stock issuable to any placement agents utilized in connection with the offering.
The Units are expected to be issued to accredited investors under an exemption from the registration requirements of the Securities Act, and any purchasers would be prohibited from offering or selling the securities purchased in the offering in the absence of an effective registration statement or an applicable exemption from registration requirements.
This press release is issued pursuant to Rule 135c under the Securities Act and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
CATALYST LIGHTING GROUP, INC.
Catalyst Lighting Group is headquartered in Fort Worth, Texas. Through its sole subsidiary, Whitco Company, LP, Catalyst manufactures and markets lighting poles for the commercial and industrial markets. The company sells and distributes its products through a network of more than 70 agents stationed throughout the United States. More information about Catalyst Lighting Group, Inc. may be found on the company's Web site, www.catalystlighting.com.
Certain of the above statements contained in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results, events and circumstances (including future performance, results and trends) could differ materially from those set forth in such statements due to various factors, risks and uncertainties, including but not limited to, risks associated with Catalyst Lighting Group, Inc.'s future growth and operating results, the uncertainty of market acceptance of the company's products, technological change, competitive factors and general economic conditions. Catalyst Lighting Group, Inc. has no duty and undertakes no obligation to update such statements.