BluePoint Energy Closes $3.25 Million Financings and Provides Guidance for June 05 Quarter Revenue Estimates
El Dorado Hills, California, April 20, 2005 - Chapeau, Inc. dba BluePoint Energy announced today the closing of $3.25 million in two financing transactions. The Company reported the closing of a $2.5 million 5-year convertible bond purchase transaction made as additional Stage II investment in connection with a prior $5.9 million financing transaction with Calim Private Equity, LLC, of Aspen, Colorado. This increases to $4.5 million the total Stage II investment, which includes $2.0 million in a similar investment a year ago. The Company also reported the closing of a $750,000 private placement for the sale of its Common Stock with a private individual, Gordon V. Smith, a new member of the Chapeau Board of Directors. A Form 8-K has been filed with the SEC relative to each of the financings.
BluePoint Energy CEO, Guy A. Archbold, commented, "These most recent financing transactions, together with additional investment potential of approximately $13 million from the exercise of options and warrants issued in connection with all of the Company's previous funding transactions provide independent substantiation of our Company's mission and direction as well as substantial working capital to finance our current marketing plan and orders in progress."
Archbold continued, "Although the domestic cogeneration market continues to be difficult during this period of higher than expected natural gas prices, we are pleased to note that consistent with our plan to evolve from development stage to a commercial stage company during the latter half of fiscal 2005, we are projecting during the current quarter shipment of at least four of our Lean-One® CHP Modules aggregating in excess of $800,000 in projected revenue. Dependent upon existing customer orders and the ability of end-users to take delivery during this quarter, the projected shipments and corresponding revenue estimates may be further revised upward."
About Calim Private Equity, LLC
Calim Private Equity, LLC is a private equity investment firm based in Aspen, Colorado specializing in early stage finance.
About Chapeau, Inc. dba BluePoint Energy
Chapeau, Inc. dba BluePoint Energy designs, assembles and sells packaged Combined Heat and Power generation systems under the trademark Lean-One™ to utilities, energy service companies and commercial end users in need of reliable, efficient, clean and cost-effective energy solutions. The company trades publicly on the Over-the-Counter Bulletin Board under the ticker symbol CPEU. For more information, call 916-780-6764 or visit www.bluepointenergy.com.
NOTE: The foregoing is news relating to Chapeau, Inc. dba BluePoint Energy (the "Company") and contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. When used in this report, the words "anticipate," "believe," "estimate," "expect" and similar expressions as they relate to the Company or its management, including without limitation, Chapeau, Inc. dba BluePoint Energy (as defined herein) and/or the Company's other subsidiaries, are intended to identify such forward-looking statements. The Company's actual results, performance or achievements could differ materially from the results expressed in, or implied by these forward-looking statements. For a discussion of additional factors that may affect actual results, investors or interested parties should refer to the Company's filings with the Securities and Exchange Commission; in particular, its annual report on Form 10-K, most current 10Q and other filings as may be relevant. This does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes.
Contact:
Chapeau, Inc. dba BluePoint Energy
Guy A. Archbold, CEO, 916.941.9559