OPEL International-Upcoming Shareholders Meeting and Proposed Name Change
May 25 2010 - 10:00AM
Marketwired
OPEL International Inc. (TSX VENTURE: OPL) ("OPEL" or "the
Company"), a leading global supplier of high concentration
photovoltaic ("HCPV") solar products, today announced that proxy
materials were mailed to shareholders with respect to the Annual
and Special Meeting of shareholders to be held in Toronto on June
18, 2010 (the Meeting"). In addition to the usual matters to be
determined at the Meeting, including the appointment of auditors
and election of directors, shareholders will be asked to consider a
special resolution authorizing, subject to regulatory approval, the
change in the name of the Company to OPEL Solar International Inc.
As the Company gains market share in the solar energy arena with
its advanced solar technologies, the name change reflects better
the primary business of the Company and it heightens investor and
customer awareness of OPEL's purpose.
Shareholders will also be asked to approve the continuance of
the Company from New Brunswick, Canada to Ontario, Canada and
ancillary by-law amendments to simplify its administrative and
regulatory requirements.
The Directors have approved these proposed changes as they
believe they are in the best interests of the shareholders. The
proposed name change is also consistent with Management's focus on
its efforts to grow the Company to its next level of success, to
build on the strong foundation already in place, to provide
increased brand recognition and to increase investor awareness,
which should eventually yield added shareholder value. The
Company's business outlook continues to be extremely positive, and
shareholders will be presented with an update on the Company at the
Meeting.
About OPEL International and OPEL Solar, Inc.
With OPEL Solar, Inc. operations headquartered in Shelton, CT
and the headquarters office in Toronto, Ontario, Canada, OPEL
designs, manufactures and markets high performance concentrating
photovoltaic ("HCPV") panels to transform solar energy into
electricity for worldwide application. OPEL's high performance
photovoltaic concentrating panels generate up to 40% more
kilowatt-hours than conventional flat plate silicon solar panels,
resulting in more cost effective electricity generated from the
sun. OPEL also markets a complete line of dual and single axis
solar trackers to mount solar panels for the optimum power output.
OPEL designs infrared sensor type products for military, consumer,
industrial and commercial applications.
A leader in gallium arsenide and solar concentrating
photovoltaic technology, the Company has been awarded 32 patents
and has 18 more patents pending. OPEL's common shares trade on the
TSX Venture Exchange under the symbol "OPL". For more information
about OPEL, please visit the Company's website at
www.opelinc.com.
Dated: May 25, 2010
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
Investors are cautioned that except for statements of historical
facts, certain statements contained in this news release may
include forward-looking information with respect to the Company.
Such forward-looking statements or information are based on current
expectations, estimates and projections formulated using
assumptions currently believed to be reasonable and involving a
number of risks and uncertainties which could cause actual results
to differ materially from those anticipated. The Company does not
undertake any obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by
applicable securities laws.
The TSXV has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
Contacts: OPEL Solar, Inc. Pat V. Agudow Vice President, Public
Relations (203) 612-2366 Ext 2612 p.agudow@opelinc.com WT Blase
& Associates Inc. Bill Blase or Stephanie Kuffner Media
Relations (212) 221-1079 solar@wtblase.com
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