Lonestar Capital Corp., a public company traded on the Toronto Venture Exchange (lon.p), is looking for leading Solar Integrators in the California market, with the goal of building a national leader in the renewable/alternative energy industry.

Lonestar Capital Corporation (TSX VENTURE: LON.P) ("Lonestar" or the "Company") is pleased to announce that it has entered into an agreement to acquire a leading California solar power company.

Effective June 29, 2008, Acro Energy Technologies, LLC, a Texas limited liability company and wholly owned subsidiary of Lonestar ("Acro Energy Technologies") entered into a Stock Purchase Agreement (the "Acro Agreement") to acquire all of the issued and outstanding common shares of Acro Electric, Inc. ("Acro") in exchange for a combination of cash, a convertible note and issuance of common shares in the capital of the Company (the "Acro Acquisition").

Acro is a full service solar integrator specializing in the installation of residential and commercial photovoltaic (PV) solar energy systems. Acro is headquartered in Oakdale, California. Steven Vella is the President of Acro. Upon completion of the Acro Acquisition Mr. Vella will become Chief Operating Officer of Acro Energy Technologies.

The Acro Acquisition will constitute a "Qualifying Transaction" for the Company as such term is defined in the policies of the TSX Venture Exchange Inc. (the "Exchange").

Acro is at arm's length to the Company and the proposed Qualifying Transaction is therefore not a "Non Arms Length Qualifying Transaction" as defined by Exchange Policy 2.4 - Capital Pool Companies (the "CPC Policy"). The Acro Acquisition was negotiated as and is being completed as arm's length transactions.

At Lonestar we do more than invest money, we provide growth capital, strategies and business solutions to a wide range of issues important to high growth companies, from start-ups to mature enterprises involved in mergers and acquisitions or public offerings.

We have backgrounds as lawyers, CPAs, CFOs, and General Counsel allowing us to serve as your strategic business partner through business and legal consulting. We have represented public companies on the NASDAQ and American Stock Exchange as well foreign exchanges such as the Toronto Stock Exhange. In addition we have represented many innovative small private companies in a variety of industries such as high technology, health care, construction, and manufacturing. 

We focus on small to mid-size companies where our expertise can have the greatest impact. We craft creative strategies to plan growth through acquisition, maximize stockholder value through sale, prepare for investors and deal with crisis situations. Our expertise gives us the clear vision to evaluate and implement the correct strategy for the target company.

 

Lonestar Capital Corp.
10700 Richmond, Suite 275
Houston, Texas 77079
(713) 715-1000



www.lonestarcapitalcorp.com