Solar Hydrogen Energy Corp Issues Shares

July 24, 2003[]Solar Hydrogen Energy Corporation (SHEC Labs) of Saskatoon, Saskatchewan, has completed the second closing of a private placement offering, whereby 18,406 Class A Common Shares were issued to subscribers resident in the provinces of Saskatchewan and Alberta, resulting in gross proceeds of CAD$36,812.00. Under this offering, the company will continue to offer up to an additional 2,442,033 Class A Common Shares at a price of CAD$2.00 per share to subscribers resident in the provinces of British Columbia, Alberta, Saskatchewan and Ontario. The minimum investment for all subscribers is CAD$1,000. SHEC Labs has developed a process to produce hydrogen from water using solar thermal energy, and will use the proceeds of the offering as working capital to continue to pursue its core research and development activities. The company is also pursuing the commercialization of other related technologies, including solar concentration.
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