Three Sixty Solar Signs Letter of Intent for First Tower Sale

Rhea-AI Summary

Three Sixty Solar Ltd. (NEO: VSOL) (OTC: VSOLF) announces non-binding letter of intent with Cattail Crossing Golf and Winter Club to install a Three Sixty Solar Tower in Sturgeon County, Alberta. The tower will provide power for the golf course and clubhouse, with plans for broadband technology from Hook'd Broadband. CEO Brian Roth and Cattail Crossing Owner Mark Beck express enthusiasm for the project, highlighting the unique benefits of the solar tower technology for the club's operations.

Cattail Crossing Golf Club Plans for Tower in Edmonton, AB

VANCOUVER, British Columbia, July 24, 2023 (GLOBE NEWSWIRE) -- Three Sixty Solar Ltd. (NEO: VSOL) (OTC: VSOLF) (“Three Sixty,” “Three Sixty Solar,” or the “Company”), an innovative alternative energy design, manufacture, and sales organization focused on solar equipment supply to the global marketplace, is pleased to announce that they have signed a non-binding letter of intent with Cattail Crossing Golf and Winter Club to proceed with the sale and installation of a Three Sixty Solar Tower in Sturgeon County, Alberta.

Key Points:

• Cattail Crossing Golf and Winter Club (“Cattail Crossing”) is a golf and winter club on the north side of Edmonton, Alberta. Cattail Crossing has signed a non-binding letter of intent (the “LOI”) with Three Sixty indicating their intent to install a Three Sixty Solar Tower on the golf club property to generate power to be used in operation of the golf course and clubhouse.
• The LOI indicates that the parties plan to begin a feasibility study as quickly as possible with the goal to reach a binding purchase order by August 31, 2023.
• The LOI also indicates Cattail Crossing’s intent to install technology from Hook’d Broadband on the solar tower to provide broadband connectivity throughout the property.
  

Three Sixty Solar’s CEO, Brian Roth states, “I’m thrilled to have signed the letter of intent to secure a tower project at Cattail Crossing. I believe that our solar tower technology is an ideal solution for a Golf and Winter Club, to provide power for operations without sacrificing the land they need for the course and clubhouse. I am also excited for the opportunity to include our partners at Hook’d Broadband in the project, adding incremental value to the stakeholders at Cattail.”

Cattail Crossing Owner, Mark Beck, adds, “We were looking for ways to add renewable energy to power our operations but couldn’t find anything suitable on the land and building that we have. The solar towers offered by Three Sixty are such a unique approach that we can easily make it fit and generate power for our irrigation systems, cart charging, and more. We are looking forward to working with Three Sixty and becoming an advocate for the solar tower solution to our friends in the golf community.”

On Behalf of the Board of Directors,

--Brian Roth—

Brian Roth,
Chief Executive Officer & Director
Three Sixty Solar Ltd.
www.threesixtysolar.com

About Three Sixty Solar Ltd. (NEO: VSOL)

Three Sixty Solar Ltd. is an all-Canadian enterprise which focuses on solar equipment supply to the global market. The company’s premier product line is the patent pending SVS series commercial solar tower. According to Statistics MRC, the solar farm sector is set to grow to around $296 billion by 2028. Three Sixty Solar’s unique tower concept is a high density, clean energy solution that uses up to 90% less land space than conventional solar farms and can co-locate adjacent to homes, retail, agriculture, and industry, thus minimizing line loss and maximizing energy delivery in places where renewables have been difficult to install until now. In multi-tower applications, developers can utilize the spaces between towers to better leverage land assets through additional revenue generating activities. Designed to withstand major instances of extreme weather, Three Sixty Solar offers a clean energy solution with minimal environmental and habitat impact. To find our more, visit: www.threesixtysolar.com and please watch our video. To stay informed, please sign up to receive news alerts.

Forward Looking Information Disclaimer

This letter contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the Company’s plans to enter into a binding purchase order to install a solar tower at Cattail Crossing and the timing thereof.

Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the sector in which the Company operates; and laws and any amendments thereto applicable to the Company.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described under the heading “Risks Factors” in the Company’s annual information form dated December 29, 2022 filed under the Company’s profile at www.sedar.com. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.

Neither the Neo Exchange Inc. nor any securities regulatory authority has approved nor disapproved the contents of this press release.

CONTACT INFORMATION

Three Sixty Solar Ltd.
Investor Relations
Email: investors@threesixtysolar.com
Telephone: +1 (778) 383-6743

Sales & Inquiries
Email: info@threesixtysolar.com
Telephone: +1 (877) 684-1972

FAQ

What is the non-binding letter of intent between Three Sixty Solar Ltd. and Cattail Crossing Golf and Winter Club about?

The non-binding letter of intent outlines plans for the installation of a Three Sixty Solar Tower at Cattail Crossing Golf and Winter Club to generate power for the golf course and clubhouse.

What additional technology is Cattail Crossing planning to install on the solar tower?

Cattail Crossing intends to install technology from Hook'd Broadband on the solar tower to provide broadband connectivity throughout the property.

What are the benefits of the Three Sixty Solar Tower for Cattail Crossing Golf and Winter Club?

The solar tower technology provides a unique approach to adding renewable energy to power operations without sacrificing land, making it suitable for the golf course's needs.

Who expressed enthusiasm for the project?

CEO Brian Roth and Cattail Crossing Owner Mark Beck both expressed enthusiasm for the project, highlighting the unique benefits of the solar tower technology for the club's operations.