WALNUT, Calif., Sept. 14 /PRNewswire-FirstCall/ -- Sunvalley Solar, Inc. (OTC Bulletin Board:SSOL.ob - News), a leading provider of solar power technology and solar system integration company, announced that, after careful review and deliberation, its Board of Directors has decided to rescind its Drawdown Equity Financing Agreement ("DEFA") and an accompanying Registration Rights Agreement with Auctus Private Equity Fund, LLC, a Massachusetts limited liability company.
The Board of Director's has determined that it would not be in the company's best interest to move forward with the equity line. Sunvalley Solar has not issued or sold any shares to Auctus under the DEFA nor has an S1 Registration statement been filed.
About Sunvalley Solar, Inc.
Sunvalley Solar, Inc. is a leading solar system solution provider that offers comprehensive solar energy technology, system design, installation, equipments, and technical support for electrical contractors, builders, homeowners, businesses/commercial buildings, and government entities that assist them in lowering of utility bills, reducing environmental impacts, and increasing energy reliability and independence through solar energy. Located in Los Angeles, California, Sunvalley Solar, Inc. is committed to reducing the world's carbon foot print from traditional energy sources to make renewable sources such as solar the nation's mainstream source of power.
To learn more, visit www.sunvalleysolarinc.com.
Forward-Looking Statement: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance.
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