HOUSTON, Texas (September 6, 2011) – Acro Energy Technologies Corp.
(TSX Venture: ART) announces that it has called a Special Meeting of its shareholders to be held in Houston, Texas on October 24, 2011.
The purpose of the Special Meeting is to authorize management to take the action necessary to convert the Company to a private entity. In furtherance of this objective, the Company will seek shareholder approval of a resolution authorizing the voluntary delisting of its common shares from the TSX Venture Exchange (the “Exchange”) pursuant to Policy 2.9 of the Corporate Finance Manual of the Exchange (“Policy 2.9”).
The Company has concluded that its strategic business plan can be best executed with the delisting from the Exchange, which will provide for greater flexibility in structuring transactions to maximize shareholder value. Pursuant to Policy 2.9, the Company is required to submit to the Exchange, among other things, evidence of the majority of the minority shareholder approval for the delisting. The delisting will be subject to the approval of the Exchange.
The record date for the meeting is September 19, 2011. The Company’s information circular with respect to the shareholders meeting will be mailed to shareholders on or about September 28, 2011.
About Acro Energy
Acro Energy Technologies Corp. is focused on the growth of renewable energy companies, primarily in the United States residential solar energy installation market. Acro Energy provides practical solutions to individuals, businesses, non-profit organizations, and governmental entities that can benefit from the value of solar power.
For more information, please visit www.acroenergy.com or email info@acroenergy.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The Company assumes no obligation for the accuracy or completeness of those forward looking statements and undertakes no obligation to revise these forward looking statements to reflect subsequent events or circumstances. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.
Investor contact: Martin C. Spake, Chief Financial Officer, Acro Energy 713/ 715-1004
mspake@acroenergy.com ###