KELOWNA, BC — (Marketwired) — 05/17/13 — (PINKSHEETS: DSTI) announces that Mr. Michael Matvieshen has successfully retired all senior secured debt held by Mr. Peter Lacey and Mike Morretti through a conversion to DSTI common shares at $1.20 per share.
Lorne “Mark” Roseborough, CEO of DayStar stated, “The completion of this debt reduction represents a true milestone in the turn-around of DayStar. Mr. Matvieshen has been successful in facilitating retirement of our long-term debt of approximately $5.4 million down to -0-. We would like to thank the patience of our shareholders and look forward to increasing their share value as we now move forward with the execution of DayStar–s global renewable energy business model.”
DayStar Technologies, Inc. (DSTI) is a developer of solar photovoltaic products and has assembled a team of project engineers and other industry professionals to facilitate the development of renewable energy projects throughout the world. DayStar is currently embarking on a strategy of strategic partnerships to enter new markets within the global renewal energy industry including ownership and construction of solar and renewable power plants.
For more information, visit the DayStar website at .
For corporate information, contact Mr. Dan Giesbrecht, VP Business Development, , 778-484-5159.
For Investor Relations, contact Mr. William Nalley, Orsay Groupe, , phone 305-515-8077.
Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like “believe,” “expect,” “anticipate,” “estimate” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” We undertake no obligation to update any forward-looking statements.
Contact:
William Nalley
305-515-8077