VANCOUVER, British Columbia, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Three Sixty Solar Ltd. (NEO: VSOL) (OTC: VSOLF) (“Three Sixty,” “Three Sixty Solar,” or the “Company”), an all-Canadian enterprise focused on solar equipment supply to the global marketplace, is pleased to advise of the signing of an important distribution agreement in partnership with Archer Cleantech Inc. (“Archer”) of Calgary, Alberta.
The agreement, effective May 1, 2022, is subject to certain commercial terms and conditions, and appoints Archer with the non-exclusive right and license to use the products and services, as well as the Company’s trademarks, to distribute, market, and sell Three Sixty Solar’s products and services to third parties within Canada. Peter Sherba, a director and significant shareholder of the Company, has been appointed as the CEO of Archer.
Archer Cleantech is an early-stage renewable energy project generator with a solid team of skilled sustainable energy industry veterans offering over 200 years of combined experience and a track record of supporting and growing companies across a wide range of power project developments worldwide. Archer is well positioned and ideally equipped to identify, secure, and execute major energy infrastructure projects to completion.
The distribution agreement has a two-year term, with two additional two-year extensions based on sales target performance. The agreement provides Archer with the non-exclusive right to sell Three Sixty Solar towers and related services across the nation along with options to sell into projects outside Canada subject to approval by Three Sixty Solar.
Brian Roth, CEO of Three Sixty Solar notes, “I’m thrilled that we could accelerate our growth through the interest and participation from the highly motivated and experienced team at Archer. It’s a big step forward for us and allows us to target the implementation of our technology into a broad range of new projects across Canada and beyond. I feel confident we will be introduced to project opportunities we would not otherwise have had access to without this exciting relationship. With the volume targets clearly defined, we expect this distribution agreement to contribute at least 10% of our goal of installing 500 MW of power within the next five years. We anticipate this will help propel value creation for our shareholders and partners alike.”
On Behalf of the Board of Directors,
--Brian Roth—
Brian Roth,
Chief Executive Officer & Director
Three Sixty Solar Ltd.
www.threesixtysolar.com
About Three Sixty Solar Ltd. (NEO: VSOL) (OTC: VSOLF)
Three Sixty Solar Ltd. is an all-Canadian enterprise which focuses on solar equipment supply to the global market. The company’s premier product line is the patent pending SVS series commercial solar tower. According to Statistics MRC, the solar farm sector is set to grow to around $296 billion by 2028. Three Sixty Solar’s unique tower concept is a high density, clean energy solution that uses up to 90% less land space than conventional solar farms and can co-locate adjacent to homes, retail, agriculture, and industry, thus minimizing line loss and maximizing energy delivery in places where renewables have been difficult to install until now. In multi-tower applications, developers can utilize the spaces between towers to better leverage land assets through additional revenue generating activities. Designed to withstand major instances of extreme weather, Three Sixty Solar offers a clean energy solution with minimal environmental and habitat impact. To find our more, visit: www.threesixtysolar.com and please watch our video. To stay informed, please sign up to receive news alerts and follow us on Instagram (@threesixtysolar.vsol), Twitter (@ThreeSixtySolar), and Facebook (@threesixtysolar.vsol).
Forward Looking Information Disclaimer
This letter contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the Company’s distribution agreement with Archer contributing at least 10% of its goal of installing 500 MW of power within the next five years.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the sector in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described under the heading “Risks Factors” in the Company’s filing statement dated August 3, 2022 filed under the Company’s profile at www.sedar.com. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
Neither the Neo Exchange Inc. nor any securities regulatory authority has approved nor disapproved the contents of this press release.
CONTACT INFORMATION
Three Sixty Solar Ltd.
Investor Relations
Email: investors@threesixtysolar.com
Telephone: +1 (778) 383-6743
Sales & Inquiries
Email: info@threesixtysolar.com
Telephone: +1 (877) 684-1972
