LAS VEGAS, NV--(Marketwire -03/07/12)- Salamon Group Inc. (OTC.BB: SLMU.PK - News) ("Salamon" or the "Company") announced today that on Friday, March 2nd, 2012, Sunlogics Power Fund Management Inc., the Company's wholly owned subsidiary, completed the court approved acquisition of the assets of ARISE Technologies Corporation.
Mr. Michael Matvieshen, CEO, stated, "This is another significant step in the development of our company. Arise's solar system business generated over $4 million in revenue last year, and the first quarter revenues are expected to exceed all of last year's total revenues, with expectation of $16 million in revenue for 2012."
According to a draft valuation report performed by one of the top 4 accounting firms in the world dated August 31, 2011, the ARISE Assets acquired by the Company were valued between $16 million and $22 million. According to the report, ARISE's patented technology will have a variable cost to produce silicon of $13.49/KG. Based on this assessment, these manufacturing costs would be 50% below the current cost of manufacturing silicon.
The Company expects to be in a position to find a partner for the silicon technology now that these assets are no longer in a distressed asset category, and intends to use partnering agreements for the ARISE technology for its own silicon manufacturing needs when appropriate, significantly lowering the manufacturing cost of silicon solar modules and increasing profitability of its Solar power projects.
About Salamon Group
Salamon Group Inc., through its Sunlogics Power Fund Management Inc. division, is a solar energy project company specializing in renewable energy power projects. It is a project-acquiring partner of Sunlogics Plc and its subsidiary as well as other third party project developers.
For further information call William J Nalley, Orsay Groupe, Inc., 305-515-8077 and/or OrsayGroupe@hotmail.com
ARISE Technologies Corporation, based in Waterloo, Ontario, was dedicated to becoming a leader in high-performance, cost-effective solar technology to develop proprietary technologies for the manufacture of high-efficiency photovoltaic (PV) cells and proprietary technologies for the production of 8N+ high-purity silicon. The ARISE technology has been proven in scale R&D and has production cost estimates of under fifteen dollars ($15) a kilogram for scaled production cost. ARISE also provides turnkey PV solutions for solar farms and rooftop installations. Websites: www.sunlogics.com and http://www.arisetech.com
SLMU cautions that statements made in press releases constitute forward-looking statements, and makes no guarantees of future performances and actual results/developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
Orsay Groupe, Inc.
William J Nalley