This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

IGo® Announces Investment In Pure Energy Visions

iGo, Inc. (Nasdaq: IGOI), a leading provider of eco-friendly power management solutions and mobile electronic device accessories, today announced the signing of an investment agreement with Pure Energy Visions Corporation and the expansion of its distribution and licensing agreements with PES Canada, Inc. and its parent company, Pure Energy Solutions, Inc., the Company’s partners in the rechargeable battery business. iGo’s investment will fund further developments in rechargeable alkaline battery technology and improve the economics of the product line.

In return for a total investment of $1.5 million Canadian dollars in Pure Energy Visions, iGo has received 2,142,858 shares of Pure Energy Visions common stock (which is traded on the TSX Venture Exchange under the ticker symbol PEV.V) at a price per share equal to $0.35, a $750,000 interest-free convertible secured debenture having a one-year repayment term that converts into an additional 2,142,858 shares of Pure Energy Visions common stock (also at a conversion price per share equal to $0.35) in lieu of repayment either upon the achievement of certain business goals or earlier at iGo’s discretion. The investment is subject to acceptance by the TSX Venture Exchange.

In addition, this investment in new technology and equipment will reduce iGo’s cost of sourcing its rechargeable alkaline batteries, which will position the Company to offer the batteries at a lower price to consumers. iGo also has certain exclusive rights in a new proprietary battery technology being developed by PureEnergy Solutions. iGo Green® rechargeable alkaline batteries are scheduled to be introduced in July 2011.

Michael D. Heil, President and Chief Executive Officer of iGo, Inc., commented, “Through this investment, we will be able to offer iGo Green® rechargeable alkaline batteries at a more attractive price point for consumers, further enhancing their appeal. With iGo Green, consumers can get a AA or AAA alkaline battery that can be recharged hundreds of times, saving them hundreds of dollars in the process and reducing the number of batteries that are tossed into landfills. We believe this will be a strong value proposition that will provide both a financial and an environmental incentive for consumers to make the switch from disposable batteries.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,908.15 -77.46 -0.46%
S&P 500 1,968.07 -4.76 -0.24%
NASDAQ 4,409.2420 -9.7920 -0.22%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs