Principal Solar Receives $15,000,000 Reserve Equity Financing from AGS Capital Group
AGS Capital Group provides $15,000,000 financing to drive the growth of Principal Solar.
- Dallas, TX (1888PressRelease) December 14, 2011 - Principal Solar, Inc (PSI; OTC Pink: PSWW), a publicly traded renewable energy holding company which concentrates its resources on rapidly advancing the inevitable, worldwide utilization of solar energy through a unique roll-up strategy, announced today it has entered into a definitive agreement with AGS Capital Group, LLC, a New York headquartered investment fund, to provide investment capital of up to $15,000,000 through a Reserve Equity Financing.
"The process of moving Principal Solar to the next level -- both as a growth company and as a publicly traded security -- is significantly enhanced by this new AGS facility," says Michael Gorton, chief executive officer and chairman of PSI. "We are executing on our business model and expect to capitalize on the growing market confidence in solar energy."
AGS Chief Investment Officer Allen Silberstein explains, "We are very excited to be a part of augmenting Principal Solar's growth, and this facility will provide an ability to quickly raise growth capital at a competitive cost. Given Principal Solar's tremendous growth potential and positioning within the marketplace, the facility should allow Principal Solar to fully realize its strategic plans and significantly drive growth."
About Principal Solar
Principal Solar, Inc (PSI; OTC Pink: PSWW) is a publicly traded renewable energy holding company which concentrates its resources on the acquisition, finance, development, and management of solar power companies to rapidly advance the inevitable utilization of solar power. The company is building the world's first online library dedicated exclusively to the field of solar energy - a 24-hour gateway to current information, perspectives and thought-leadership: www.definitivesolarlibrary.com. Visit www.PrincipalSolar.com.
About AGS Capital Group
AGS Capital Group provides flexible equity financing solutions for growth-stage and mature public companies as well as private companies looking to go public. With offices in New York, Hong Kong and India, AGS Capital Group has facilitated the growth of companies within the U.S. and those domiciled in foreign markets around the globe. AGS Capital Group invests in public companies listed on most exchanges and performs fundamental analysis including credit risk, technical analysis of market trends and industry, evaluation of management team experience and corporate structure evaluation. Additional information may be found at www.agscapitalgroup.com
Cautionary Statement Regarding Forward-Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors in the solar energy generating industry (market risk, government regulation, operational risks, etc.) that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The Company does not assume a duty to update these forward-looking statements, except as required by law.
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