TORONTO, ONTARIO and SHELTON, CONNECTICUT -- (Marketwire) -- 05/02/11 -- OPEL Solar International Inc. (TSX VENTURE: OPL) ("OPEL" or "the Company") today announced the resignation of Mr. David Slomka as a Director of the Company for personal reasons. Mr. Slomka, who resigned on April 30th, served on the Board since June 2007 and was also the Chairman of the Compensation Committee. We wish him well on his future endeavors.
The Board intends to fill the vacancy thus created at the next scheduled Board Meeting. The Board remains committed to its goal of increasing long-term shareholder value. The Board continues to be confident in the Company's strategy for both its solar business that includes greater vertical integration, development of its brownfields initiative and its burgeoning solar systems rollout in North America and China and its Planar Optoelectronic Technology (POET) device development program.
The Company's next Annual General Meeting of Shareholders is scheduled for Tuesday June 21, 2011. Further details are to be announced shortly.
About OPEL Solar International Inc., OPEL Solar, Inc. and ODIS Inc.
With operations in Shelton, CT and head office in Toronto, Ontario, Canada, the Company, through OPEL, Inc., designs, manufactures and markets high-concentration photovoltaic panels and dual- and single-axis trackers for related CPV and PV systems for energy applications worldwide. The Company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications, including infrared sensor arrays and ultra-low-power random access memory. The Company has 35 patents issued and 12 patents pending in PV systems technologies and for its semiconductor POET process, which enables the monolithic fabrication of integrated circuits containing both electronic and optical elements, with potential high-speed and power-efficient applications in devices such as servers, tablet computers and smartphones. 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.
Dated: May 2, 2011
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
Pat V. Agudow
Vice President, Public Relations
+1 (203) 612-2366 x2612
p.agudow@opelinc.com
www.opelinc.com
ICR - Investor Relations
Gary Dvorchak, CFA
Senior Vice President
+1 (310) 954-1123
gary.dvorchak@icrinc.com
ICR - Public Relations
Matthew Lindberg
Account Supervisor
+1 (203) 682-8214
matthew.lindberg@icrinc.com