N@N

P2 Solar, Inc.: British Columbia Supreme Court Awards P2 Solar, Inc. Judgment Against PVT for 1,485,000.00 CAD

^{Published on 2009-09-24 06:53:02 - Market Wire}
 

SURREY, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2009) - P2 Solar, Inc. (OTCBB:PTOS) (the "Company") is pleased to announce that the British Columbia Supreme Court has awarded judgment in favour of P2 Solar, Inc. against Photo Violation Technologies Corp. ("PVT") in the amount of $1,485,000.00 CAD plus interest.

On December 17 2007, the Company, formerly Natco International Inc., commenced legal proceedings in British Columbia Supreme Court ("the Action") against Photo Violation Technologies Corp. ("PVT").

In the Action the Company claimed, among other things, that PVT had breached the agreement between the Company and PVT, said Agreement entered into on or about March 16, 2007, ("the Agreement") which provided for the completion of a previously announced Reverse Merger between the Company and PVT.

The Company had taken a number of significant steps towards completion of the Agreement, including advancing approximately $1.5 million to PVT. In the Action, the Company, among other things, sought the recovery of these funds. The Action has resulted in the Court granting judgment against PVT in the amount of $1,485,000.00 CAD plus interest.

About P2 Solar, Inc.

P2 Solar, Inc. is dedicated to building Solar Power Stations, currently focusing its efforts throughout India. It is also involved in the manufacturing of an advanced Solar Panel and other solar technologies. The company will manufacture these panels for application in the Commercial, Industrial and Residential, markets. For additional information please visit our website at [ http://www.p2solar.com ].

Forward-Looking Statements

Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, managing growth, and political and other business risks. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks and other factors detailed in the P2 Solar, Inc.'s reports filed with the Securities and Exchange Commission. P2 Solar, Inc. undertakes no duty to update these forward-looking statements.