Streetlight Intelligence Inc. announces asset sale to LED Roadway Lighting Ltd

    




 VICTORIA, BC, Nov. 21, 2011 /CNW/ - Streetlight Intelligence Inc. ("SLQ" or the "Corporation"). The Receiver-Manager of Streetlight Intelligence Inc., G. Powroznik  Group Inc. of G-Force Group, announces that on November 15, 2011, the  Supreme Court of British Columbia approved the sale of substantially  all of the assets of the Corporation and its subsidiary, Streetlight  Intelligence International Ltd., to LED Roadway Lighting Ltd. of  Halifax, Nova Scotia (the "Sale").  The Sale closed on November 18,  2011.  LED Roadway intends to continue to operate the Streetlight  business out of Victoria, B.C. for the immediate future.  The Sale  culminated an extensive four-month marketing and sales program by the  Receiver, during which over 100 targeted parties generated 23 serious  prospects, ranging from small investment groups to large conglomerates,  and a range of industries and countries. 

 The proceeds of the Sale are anticipated to cover the costs of the  receivership, certain statutory secured claims, including from former  employees, and a partial payment to the first priority creditor, Hydro  Ottawa Holding Inc.   There will be no recovery for the remaining  secured or unsecured creditors or the shareholders of the Corporation. 

 About Streetlight Intelligence Inc. Streetlight Intelligence Inc. develops advanced street light  optimization systems.  Trademarked as Lumen IQ™, SLQ's technologies  provide improved lamp performance, adaptive lighting control, and  system-wide communications for centralized street light management.   SLQ's systems enable street light operators to significantly reduce  their community's energy consumption, maintenance costs and  environmental impact. 

 About LED Roadway Lighting Ltd. LED Roadway Lighting Ltd ("LRL") is a leading provider of LED-based  outdoor lighting solutions with more than 300 municipal, utility and  commercial customers in 24 countries.  Located in Nova Scotia, Canada,  with corporate headquarters and a research and design facility in  Halifax and a 55,000 square foot LED and electronics manufacturing  facility in Amherst, LRL offers a complete range of LED-based street  and area lighting fixtures that meet or exceed IES, CIE and IDA  requirements.  LRL's products are RoHS compliant (free of lead and  mercury), provide energy savings of up to 80% and substantially reduce  maintenance costs. 

 SLQ is a public company listed on the TSX Venture Exchange under the  symbol "SLQ". 

 Neither TSX Venture Exchange nor its Regulation Services Provider (as  that term is defined in the policies of the TSX Venture Exchange)  accepts responsibility for the adequacy and accuracy of this release. 

Streetlight Intelligence Inc.


CONTACT:  For more information, visit www.StreetlightIQ.com or contact theReceiver:Ali Pourdad, CAG. Powroznik Group Inc. Receiver-Manager of Streetlight IntelligenceInc.(778) [e-mail] 


    

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