Solar IPO Postponed until ’03

Intercedent Ventures Ltd. (IVL) previously announced that it would hold an Extraordinary General Meeting (EGM) of IVL Shareholders in Vancouver on December 20, 2002 to approve IVL’s amalgamation with ARISE Technologies Corporation (ARISE). The amalgamation will be an arm’s length transaction effected in accordance with the policies of the TSX Venture Exchange. ARISE is an energy technology company located in Kitchener dedicated to accelerating the use of solar energy in mainstream markets. ARISE has been conditionally approved to list on the Exchange subject to raising a minimum of CAN$1,200,000 in its initial public offering (IPO). Both Arise’s IPO and the amalgamation transaction are proceeding well but not on a timetable that will permit holding the EGM on the date that was originally proposed. Therefore the EGM has been postponed until the new year. A new date for the EGM will be announced soon.
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