SHELTON, CONNECTICUT and TORONTO, ONTARIO -- (Marketwire) -- 11/30/10 -- OPEL International Inc. (TSX VENTURE: OPL) ("OPEL" or "the Company"), a leading global supplier of high concentration photovoltaic ("HCPV") solar panels and other solar products, including ground-based and rooftop tracker systems, announces that it has filed Articles of Continuance under the Business Corporation Act (Ontario) dated November 30, 2010, thereby changing its name to OPEL Solar International Inc. There is no consolidation of capital and no exchange of shares is required.
The Company is now under the jurisdiction of the Province of Ontario instead of the Province of New Brunswick. The new name was selected to better reflect the main business being carried on by the Company. The Company is classified as a 'Solar Energy Technology' company.
Trading on the TSX Venture Exchange under the new name will commence on December 1, 2010. The Stock Symbol "OPL" will remain the same, but the CUSIP number has been changed to 67089X 10 0.
"With the name change, OPEL Solar will be easily recognized by our customers and investors as a market leading solar company known for its advanced high concentration photovoltaic solar technology and tracker systems," said Leon Pierhal, OPEL's Chief Executive Officer. "We also welcome the change to operating under Ontario jurisdiction, as this is the location of the office of our corporate headquarters."
About OPEL Solar International and OPEL Solar, Inc.
With OPEL Solar, Inc. operations headquartered in Shelton, CT and the headquarters office in Toronto, Ontario, Canada, OPEL designs, manufactures and markets high performance concentrating photovoltaic ("HCPV") panels to transform solar energy into electricity for worldwide application. OPEL's high performance photovoltaic concentrating panels generate up to 40% more kilowatt-hours than conventional flat plate silicon solar panels, resulting in more cost effective electricity generated from the sun. OPEL also markets a complete line of dual and single axis solar trackers to mount solar panels for the optimum power output. OPEL designs infrared sensor type products for military, consumer, industrial and commercial applications.
A leader in gallium arsenide and solar concentrating photovoltaic technology, the Company has been awarded 33 patents and has 17 more patents pending. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL". For more information about OPEL, please visit the Company's website at www.opelinc.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
OPEL Solar International Inc.
Pat V. Agudow
Vice President, Public Relations
+1 (203) 612-2366 x2612
p.agudow@opelinc.com
www.opelinc.com
ICR LLC
Gary T. Dvorchak, CFA
Investor Relations
+1 (310) 954-1123
gary.dvorchak@icrinc.com