Etrion Corporation ("Etrion" or the "Company") (TSX:ETX), a Canadian energy
company, today released its annual information form ("AIF"), annual consolidated
financial statements and related management discussion and analysis ("MD&A") for
the year ended December 31, 2009.


For the year ended December 31, 2009, the Company reported a net loss of US$59.1
million (loss per share of US$0.37) compared to a net loss of US$23.2 million
(loss per share of US$0.15) for the year ended December 31, 2008. The Company's
MD&A contains a detailed analysis of the periods discussed.


The net results for the year ended December 31, 2009, were adversely affected by
the following non-cash items that had no impact on cash flow: (a) the
recognition of a US$44.0 million impairment loss in the carrying value of
Etrion's oil and gas investments in Venezuela due to the uncertainty of
collecting future dividends; (b) the recognition of US$5.5 million in
compensation expense related to the CEO's right to exchange his 10% equity
interest in the Company's European subsidiary, Solar Resources Holding, Sarl
("SRH"), for an equivalent fair value of shares in Etrion; and (c) the
recognition of US$0.9 million in compensation expense related to the CEO's
carried interest in SRH.


Before the extraordinary non-cash compensation expense and the oil and gas
impairment, the Company's net loss for the year ended December 31, 2009, would
have been US$8.7 million (loss per share of US$0.05).


Marco Northland, the Company's CEO, commented, "Etrion made significant progress
in the fourth quarter with the closing of the acquisition and bank financing for
our first solar power project in southern Italy. We continue to review
additional acquisitions in Italy in order to achieve our 2010 goal of having 10
megawatts of solar power capacity installed, 10 megawatts under construction and
20 megawatts permitted for development. We have substantial cash and strong
shareholders to support our growth."


SEDAR

Etrion has filed its AIF, annual consolidated financial statements and related
MD&A for the year ended December 31, 2009, with Canadian securities regulatory
authorities on the System for Electronic Document Analysis and Retrieval
("SEDAR"). Copies of these documents may be accessed electronically on SEDAR at
www.sedar.com.


About the Company

Etrion Corporation is a Canadian energy company based in Geneva, Switzerland and
listed on the Toronto Stock Exchange (ticker symbol "ETX"). The Company is
focused on building, owning and operating global electrical power plants based
on renewable sources of energy, including solar photovoltaic, solar thermal and
wind. Etrion continues to own oil and gas investments in Venezuela acquired by
its predecessor, PetroFalcon Corporation.


The Company is owned 45% by Lundin Petroleum, a Swedish independent oil and gas
company traded on the NASDAQ OMX Stockholm exchange (ticker symbol "LUPE"), and
approximately 13% by the Lundin family through various trusts.


Forward-Looking Information:

This press release contains certain "forward-looking information". All
statements, other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will or
may occur in the future (including, without limitation, statements relating to
the Company's goals with respect to solar power capacity) constitute
forward-looking information. This forward-looking information reflects the
current expectations or beliefs of the Company based on information currently
available to the Company. Forward-looking information is subject to a number of
significant risks and uncertainties and other factors that may cause the actual
results of the Company to differ materially from those discussed in the
forward-looking information, and even if such actual results are realized or
substantially realized, there can be no assurance that they will have the
expected consequences to, or effects on the Company. Factors that could cause
actual results or events to differ materially from current expectations include,
but are not limited to, the failure to complete construction of the Italian
solar projects and to begin selling electricity therefrom in a timely manner and
the failure to complete the acquisition and/or development of additional solar
energy projects.


Any forward-looking information speaks only as of the date on which it is given
and, except as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward-looking information,
whether as a result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking statements are not a
guarantee of future performance and accordingly undue reliance should not be put
on such information due to the inherent uncertainty therein.


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