Struggling PV module manufacturing minnow, Arise Technologies could be delisted for the Toronto Stock Exchange following the insolvency proceedings started by the company for its German-based operations. The company has been trying to find an investor or partner for some time.
The company said that a deal is in the making with an unidentified company and hoped it can be finalised soon as it has 30 days in which to regain TSX compliance. Failure to meet compliance within this timeframe could result in delisting on December 21, 2011.
Arise Technologies has also been told to pay Scheuten Solar €920,066 in relation to lease disputes related to its Technology Centre in Gelsenkirchen, Germany.