VANCOUVER, British Columbia, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Three Sixty Solar Ltd. (NEO: VSOL) (OTC: VSOLF) (“Three Sixty,” “Three Sixty Solar,” or the “Company”), an innovative alternative energy design, manufacture, and sales organization focused on solar equipment supply to the global marketplace, is pleased to announce the signing of a non-binding letter of intent with Lois Creek Development Inc. to secure the phase one sale of a combined solar and telecommunications tower in the town of Kimberley, part of the spectacular East Kootenay mountain region of British Columbia.
Key Points:
- Lois Creek Development Inc. is developing a 64-home subdivision in Kimberley, British Columbia, focusing on near net-zero construction. Lois Creek has signed a letter of intent (LOI) with Three Sixty indicating their commitment to include an initial Three Sixty Solar Tower in the development.
- The LOI indicates that the parties plan to begin a feasibility study within the next 30 days to move the project forward.
- The LOI also indicates Lois Creek’s intent to install technology from Hook’d Broadband on the solar tower to provide connectivity to the developing community.
Three Sixty Solar’s CEO, Brian Roth states, “I’m thrilled to have executed this LOI and can’t wait to proceed with our part of this exciting development project with the Lois Creek Development team. We are very eager to kick off the feasibility study, and to begin working with several regional partners including Hook’d Broadband. We couldn’t be happier that Mr. Winter and his associates at Lois Creek share our vision as to the value that our technology can bring to their community, and we look forward to building a long-term relationship with them.”
Noel Winter, President of Lois Creek Development Inc. adds, “The solar towers offered by Three Sixty provide a unique approach, enabling us to deploy renewable solar power that home buyers in our communities are asking for, without having to sacrifice large amounts of land or compromise the integrity of the roofs on the homes. We are excited to move forward on a first deployment and to see how this will fit in our future communities. This has the potential to be an enhancement for our developments moving forward.”
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)
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.
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 plans to enter into a binding purchase order to install a solar tower at Lois Creek Development Inc. and the timing thereof.
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 annual information form dated December 29, 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
