Three Sixty Solar Signs Solar Tower Sales LOI with Sustainable Home Developer
August 01 2023 - 7:30AM
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 &
DirectorThree 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
RelationsEmail: investors@threesixtysolar.com Telephone: +1 (778)
383-6743
Sales & InquiriesEmail:
info@threesixtysolar.com Telephone: +1 (877) 684-1972
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