Swiss start-up acquires solar panel manufacturer

Emerald, Xunlight and iLand have entered into a Letter of Intent to effect a share exchange agreement whereby iLand will acquire 98-100% of the issued and outstanding common shares of Xunlight effective January 31st, 2014. The purchase price for the transaction amounts to 3,900,000. - Eur and will be settled as part of a capital increase in iLand with the issuance of 3.9 million shares at a price of 1, -Eur. Shareholders in Xunlight will receive those shares through a share exchange of their holdings in Xunlight. As a result of the transaction, Emerald who is the majority and controlling shareholder in Xunlight will then hold approximately 40% of iLand's common shares. Emerald will also have one board member appointed to the iLand board of directors to represent their interest as a strategic long-term position investor.

"This acquisition is very strategic for us and should provide us with a secure supply chain for our solar powered solutions" commented iLands CEO Louis Phillipe Antunes who further stated: "we also see numerous synergies with our products and marketing and sales efforts."

John E. Buckey, President of Xunlight said: "We are very excited to be part of iLand. This combination will allow us to increase penetration into our existing markets in North and South America, Europe, Africa and Australia by providing iLand's innovative portable solar products directly to the end user. It is an important step in furthering our corporate mission to deliver high performance, lightweight and flexible energy products that provide independence and connectivity to everyone under the sun."

Daniele Oppizzi, the founder of iLand who will be appointed as the President of the group of Companies also said: "On paper and in real world applications I believe the solar panels of Xunlight are currently the best on the world market. With iLands sales network and its connections into the industry, the military and in many countries such as Africa, South America and Asia I see this combination giving the group an edge against the competition resulting in a positive development for the company and its shareholders and will be for the future growth of the group of great importance."

Markus Moor, a partner of Emerald and a board member of Xunlight commented by saying: "Xunlight's and iLand's product portfolios, competencies and geographic activities complement each other very well. It was the next logical step in the Companies evolution and development to join together. Furthermore, iLand is a public company and we see this combination as a excellent step to having access to public markets and in growing value for all stakeholders."

About iLAND Green Technologies SA:
ILAND Green Technologies SA is a global manufacturer of innovative solar products - mobile and portable solar generators - from Switzerland. ILAND covers the major supply areas exist for which no market-relevant solutions. This applies especially for the outdoor and leisure market, for humanitarian organizations like the Red Cross, the UN and UNHCR. The latter are already customers and appreciate the reliable Swiss technology and the outstanding features of the products, even under extreme conditions. ILAND was founded in 2008 and is based in Bevaix (NE).