OPEL Technologies Inc. Grows Its Operating Capital Options

September 29th, 2011

Shelton, CT and Toronto, ON, September 29, 2011 – OPEL Technologies Inc. (TSX-V: OPL) (“OPEL” or “the Company”), a leading global supplier of high concentration photovoltaic (“HCPV”) solar panels, solar tracker systems and a semiconductor device and process developer, announces that OPEL has entered into a financing arrangement with Kodiak Capital Group, LLC (“Kodiak”) to provide the Company up to $10 million of funding capacity (the “Facility Amount”) in the form of an equity line of credit. The arrangement requires Kodiak to purchase up to $10,000,000 of the common shares of the Company. The Company may draw-down funds from time to time, at its sole discretion, over a period of two years after the common shares has been qualified for distribution. All shares will be issued by the Company at a price equal to the market price of the Company’s shares on the TSX Venture Exchange based on the five consecutive trading days immediately after a draw-down notice has been delivered by the Company less a discount of 10%. The amount that the Company shall be entitled to request from each of the drawdowns shall be equal to the greater of (i) $1,000,000 or (ii) up to 200% of the average daily volume (US market only) (“ADV”) multiplied by the average daily trading volume of the Company’s shares for the three trading days prior to the delivery by the Company of a draw-down notice… Read the Full Press Release

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