Attached files
Exhibit
99.2
CORONUS
SOLAR INC.
(formerly,
InsightfulMind Learning, Inc.)
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Suite
300 - 1055 West Hastings Street
Vancouver,
B.C. V6E 2E9
Canada
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Telephone 604-609-6152
Facsimile 604-684-6024
www.insightfulmind.com
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NEWS
RELEASE
For
Immediate Release
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OTCBB
- IMNDF
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CLOSING
OF ACQUISITION OF CORONUS ENERGY
CORP.
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Vancouver,
B.C. – November 6, 2009 – Jeff Thachuk, President of Coronus Solar Inc.
(formerly, InsightfulMind Learning, Inc.) (the “Company”) announced today that,
further to the Company's News Release of August 11, 2009, the Company has
completed, effective November 2, 2009, the acquisition (the "Acquisition") of
all of the issued and outstanding shares of Coronus Energy Corp. ("Coronus
SubCo"), a start-up stage company founded to deploy and operate utility-scale
solar power systems in the State of California, in consideration of the Company
issuing 1,000,000 commons shares at a deemed price of US $0.05 per share to Mark
Burgert. The terms of the Acquisition were approved by the Shareholders of the
Company at the Company's annual and special general meeting held on October 13,
2009. In addition, the Company has issued Mr. Burgert 75,000 incentive stock
options, exercisable at US $0.13 per share until April 22, 2015 and 100,000
incentive stock options, exercisable at US $0.13 per share until March 31,
2016.
As
previously announced, in connection with the closing of the Acquisition, all
4,525,000 common shares of the Company collectively held between Messrs. Thachuk
and Burgert following the Acquisition have be placed into voluntary escrow, to
be released to each of them on the basis of one common share each for each $1.00
earned in revenue by the Company on a consolidated basis.
With the
completion of the Acquisition, the Company will now focus its efforts on the
business of Coronus Subco.
Mr.
Thachuk further announced that effective November 3, 2009, the Company has
changed it's name (the “Name Change”) from InsightfulMind Learning, Inc. to
Coronus Solar Inc., and split it's common stock (the “Stock Split”) on the basis
of two post-split common share for each one pre-split common
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Coronus
Solar Inc.
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News
Release
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Page
1 of 2
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share.
Shareholder approval for the Name Change and Stock Split was obtained at the
Company's October 13, 2009 annual and special general meeting. The
figures set forth above do not reflect the 2 for 1 stock split.
On behalf
of the Board of Directors,
Coronus
Solar Inc.
“Jeff Thachuk ”
Jeff
Thachuk
President
Forward Looking
Statements: Statements included in this announcement,
including statements concerning our plans, intentions and expectations, which
are not historical in nature are intended to be, and are hereby identified as,
“forward-looking statements” for purposes of the safe harbor provided by Section
21E of the Securities Exchange Act of 1934, as amended by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements may be identified by
words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and
similar expressions. The company cautions readers that forward-looking
statements, including without limitation those relating to the company's future
operations and business prospects, are subject to certain risks and
uncertainties that could cause actual results to differ materially from those
indicated in the forward-looking statements.
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Coronus
Solar Inc.
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News
Release
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Page
2 of 2
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