ARISE Files a Preliminary Prospectus Supplement to raise up to $15,000,000

WATERLOO, ON, Nov. 22 /CNW/ - ARISE Technologies Corporation ("ARISE" or the "Company") (TSX: APV and Frankfurt: A3T), a leader in high-performance, high-quality, cost-effective solar technology, today announced the filing of a preliminary prospectus supplement to its September 29, 2009 base shelf prospectus in connection with a brokered offering of up to $15,000,000 of Units plus a 15% over allotment option (the "Offering").  Each Unit will consist of one common share and one common share purchase warrant. Pricing of the Units will be determined in the context of current market pricing. The share purchase warrants will expire on a date to be agreed between the Company and the co-lead agents, between June 11, 2012 and two years following their issuance unless such date is accelerated in accordance with the terms of the share purchase warrants. ARISE has entered into an engagement letter with NCP Northland Capital Partners Inc. and Raymond James Ltd. to act as co-lead agents for the Offering, which will be conducted on a "best efforts" basis.

Closing of the Offering is subject to final pricing and TSX approval. The proceeds of the Offering will be used to substantially fund the purchase of equipment for a third PV Cell production line at the Company's German PV Cell production facility ("Line 3"), to repay the outstanding $1.75 million bridge loan from Haverstock Master Fund, Ltd. and Trenrasp, LLC and for general corporate purposes.

In addition to other customary closing conditions to be set out in the agency agreement to be entered into in respect of the Offering, closing of the Offering will be subject to the Company and its wholly owned subsidiary, ARISE Technologies Deutschland GmbH, ("ARISE Germany") entering into an agreement with Commerzbank AG, in a form satisfactory to the co-lead agents acting reasonably, that confirms that upon receipt of the proceeds from the Offering, the conditions of the Trust Agreement (as described in the preliminary prospectus supplement) relating to the receipt of financing necessary to implement Line 3 will be satisfied.

About ARISE Technologies

ARISE Technologies Corporation, based in Waterloo, Ontario, is a leader in high-performance, cost-effective solar technology.  The company operates through three divisions.  The PV Cell Division manufactures PV (photovoltaic) cells at its first manufacturing plant opened in April 2008 in Bischofswerda, Germany.  The division is developing proprietary technology with a target of achieving a step-by-step progression to a high-efficiency level of greater than 20%.  The PV Silicon Division is using a proprietary method to produce silicon at 7N+ high-purity (99.99999% purity) for PV cell applications, based on a simplified chemical vapor deposition process.  The division is focusing on scaling up its process to provide ARISE with control over its supply, costs, and quality.  The PV Systems Division has been providing PV solutions for solar farms and rooftop installations since 1996 throughout North America. ARISE is planning to expand its systems business in Ontario under the Ontario FIT (Feed-In Tariff) program. 

The Company's shares are listed on the Toronto Stock Exchange under the symbol APV and on the Frankfurt Open Market Exchange under the symbol A3T.  Additional information is available at www.arisetech.com and www.sedar.com. 

Forward-Looking Statements and Risk Factors

Certain statements in this news release may be considered to be forward-looking.  Such statements are based on management's current expectations, estimations, and assumptions based on experience, trends, and other factors that are subject to the significant risks and uncertainties described in our regulatory filings.  Please refer to these.  Such risks and uncertainties may include, but are not limited to, the effects of general economic conditions, changing foreign exchange rates, actions by government authorities, the requirement for additional capital, risks associated with manufacturing, industry supply levels, competitive pricing pressures and misjudgements in the course of preparing forward-looking statements. 

Risk factors relating to ARISE are discussed in the Risk Factors section of ARISE's Annual Information Form and under the headings Liquidity and Capital Resources and Risk and Uncertainties in ARISE's year-end Management's Discussion and Analysis which are available at www.sedar.com.  These factors should be considered carefully, and readers should not place undue reliance on ARISE's forward-looking statements.

ARISE assumes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

%SEDAR: 00017494E

For further information:

ARISE Technologies Corporation
65 Northland Road, Waterloo, Ontario, Canada N2V 1Y8
Doug McCollam, Chief Financial Officer, [phone]
[email protected]
www.arisetech.com

Investor Relations:
Glen Williams
The Equicom Group
[phone] x272
[email protected]