Solar Energy Initiatives Inc. (OTC: SNRY), a diversified provider of solar solutions with two principal wholly-owned subsidiaries focused on large-scale solar projects, today, announced that it entered into a definitive agreement to acquire certain assets of a Internet digital marketing company. The announcement has sent SNRY shares sharply higher in trading today.
Solar Energy Initiatives shares rose to an intra-day high of $0.07. At last check, the stock was trading 71.05% higher at $0.0650 on above average volume of 454,496.
Solar Energy Initiatives said that its plan of acquiring a leading media and data solutions provider gives it a strong platform on which to launch its new business strategy into the explosive Internet digital marketing space.
David Fann, CEO of Solar Energy Initiatives, said that SNRY has been working to recapitalize itself and seek out new growth opportunities in order to maximize shareholder value. The decision to acquire certain assets of a Internet digital marketing company was taken due to the reduction in value of the existing solar business.
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