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Eclipsol Energy converts to partnership allowing flow through investment to investors

VANCOUVER, BRITISH COLUMBIA (November 21, 2014) – Eclipsol Energy Inc. (the “Company” or “Eclipsol”) announced today its restructuring into a partnership in order to allow flow through of tax losses to investors.  In the new structure, any tax loss that Eclipsol incurs during the development phase will essentially be transferred to the unit holders. The Company will be converted into a partnership on a tax-deferred basis.  The purpose of the restructuring is to allow for the tax loss that Eclipsol will incur during the development phase to be allocated to the unit holders.  This allows the investor to realize the “flow through” tax deduction in their following tax year, which will reduce the effective investment cost for the investors equal to the top marginal tax bracket they are subject to in their annual tax assessment.

One of the ways deductions can be maximized is by placing the units purchased into an RRSP. The maximum deduction for the unit holders would be equal to the amount they invest in Eclipsol.  Most, if not all of the expenses that will be incurred during the development of Eclipsol’s projects, will result in an immediate tax loss, which will be allocated to the unit holders as the funds are spent (on an annual basis). 

"The tax deduction attributes to develop the projects will enable our unit holders to offset their personal or business taxes, which is more valuable to them personally then to Eclipsol at this point of development," said Robert Coelho, President and Chief Executive Officer of Eclipsol.  "This investment opportunity provides for an excellent entry point to a cluster of the most advanced pumped storage projects in British Columbia."  

About Eclipsol Energy

Eclipsol Energy Inc. is a privately held developer of independent power producer projects.  Eclipsol is focused on developing three pumped storage hydro-electrical facilities located in the surrounding lakes of Quesnel Lake in British Columbia, Canada. Quesnel Lake will be the lower lake storage while Hen Ingram Lake, Whiffle Lake, and Keno Lake will be the upper lake storage. All of the facilities will work in concert to maximize power output and will be modeled to provide an ideal combined output for their load patterns.

Eclipsol has received investigative use licenses for the development of the pumped storage project on each of the Hen Ingram Lake, Keno Lake and Whiffle Lake.  The combined projects will have up to 700 MW in installed capacity.  Eclipsol has also entered into an investigative use agreement with the two First Nation Bands in the area and the Company intends to work closely with those and other stakeholders in developing these projects.  In addition, Eclipsol is managed by a team with extensive experience in the independent power producer sector as well as employing world-class strategic partnerships with leading suppliers of services and equipment.

The use of proceeds will be allocated to advance the projects through environmental permitting, obtaining an electricity purchase agreement and securing our relationships with the First Nations.

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Eclipsol Energy establishes Investigative Agreements with both Soda Creek and Williams Lake Indian Bands

VANCOUVER, BRITISH COLUMBIA (June 27, 2014) – Eclipsol Energy Inc. today announced it has established a working relationship through agreements with both the Soda Creek Indian Band and William’s Lake Indian Band for the investigation of developing three pumped storage hydro-electrical facilities on their traditional lands. 

"We are very pleased to have jointly taken this first step with our First Nation partners," said Robert Coelho, Eclipsol President and Chief Executive Officer.  "Very importantly, this achievement was reached to establish an effective bond for our team.  It is Eclipsol’s mandate to partner at the onset of developing these projects and proactively develop working relationships that establishes trust and mutually beneficial rapport."

On June 27, the agreements were signed and agreed to by all parties for the plan to develop the three pumped storage hydro-electrical facilities. Overall, progress for the facilities remains on track for declaration of commercial financial close by the end of 2016. 

 

About Eclipsol Energy

Eclipsol Energy Inc. is a privately held company, which is dedicated to harnessing energy using advanced technology that will facilitate the development, construction, and operation of sustainable and economically viable renewable power projects to meet the world’s ever increasing demand for power. Eclipsol will provide its clients with a quality power solution that positively impacts communities and the environment. 

Notice to Readers

This news release contains forward-looking statements regarding the Company, our corporate plans, future financial condition, future results of operations, future business plans and strategies.  All such forward-looking statements are based on our management’s assumptions and beliefs in light of information available to them at this time.

 

These forward-looking statements are, by their very nature, subject to significant risks and uncertainties, and actual results, performance or achievements may be materially different from those expressed in the forward-looking statements.  Factors that may cause actual results, performance or achievements to differ from expectations include, but are not limited to; ability to access sufficient capital from internal and external sources, regulatory changes, future levels of industry product supply, demand and pricing, customer adoption levels, wars and acts of terrorism, technical risks related to product design, development and production, acts of competitors and other changes to business conditions.  The Company undertakes no obligation to revise any such forward-looking statements to reflect any changes in the Company’s expectations with regard thereto or any change in circumstances or events after the date hereof.

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Eclipsol Energy Receives Investigative Use Licenses for Three Pumped Storage Hydro-Electrical Facilities

VANCOUVER, BRITISH COLUMBIA (May 28, 2014) – Eclipsol Energy Inc. today announced it has received Investigative Use Licenses for the Hen Ingram Lake pumped storage hydro-electrical facility, the Keno Lake pumped storage hydro-electrical facility, and the Whiffle Lake pumped storage hydro-electrical facility.

 

The proposed pumped storage hydro-electrical facilities are located in the surrounding lakes of Quesnel Lake in British Columbia, Canada. Quesnel Lake will be the lower lake storage while Hen Ingram Lake, Whiffle Lake, and Keno Lake will be the upper lake storage. All of the facilities will work in concert to maximize power output and will be modeled to provide an ideal combined output for their load patterns.

What is Pumped Storage?

Pumped Storage involves the generation of electricity by capturing the energy of water being transferred from a higher elevation upper reservoir, through turbine generator units, into a lower elevation reservoir. The system is then reversed and the water from the lower reservoir is pumped back to the upper reservoir.

 

About Eclipsol Energy

Eclipsol Energy Inc. is a privately held company, which is dedicated to harnessing energy using advanced technology that will facilitate the development, construction, and operation of sustainable and economically viable renewable power projects to meet the world’s ever increasing demand for power. Eclipsol will provide its clients with a quality power solution that positively impacts communities and the environment. 

Notice to Readers

This news release contains forward-looking statements regarding the Company, our corporate plans, future financial condition, future results of operations, future business plans and strategies.  All such forward-looking statements are based on our management’s assumptions and beliefs in light of information available to them at this time.

 

These forward-looking statements are, by their very nature, subject to significant risks and uncertainties, and actual results, performance or achievements may be materially different from those expressed in the forward-looking statements.  Factors that may cause actual results, performance or achievements to differ from expectations include, but are not limited to; ability to access sufficient capital from internal and external sources, regulatory changes, future levels of industry product supply, demand and pricing, customer adoption levels, wars and acts of terrorism, technical risks related to product design, development and production, acts of competitors and other changes to business conditions.  The Company undertakes no obligation to revise any such forward-looking statements to reflect any changes 

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