CAMPBELL, Calif., June 21, 2012 (GLOBE NEWSWIRE) -- Westinghouse Solar,
Inc.(Nasdaq:WEST), a designer and manufacturer of solar power systems,
announced that it has been granted continued listing on NASDAQ.
On June 19, 2012, the Company received a letter from The NASDAQ Stock
Market notifying the Company that a NASDAQ Hearings Panel (the "Panel")
granted the Company's request for continued listing of its common stock
on the NASDAQ Stock Market. The continued listing is subject to
conditions including the following: on or before October 1, 2012, the
Company will close the merger transaction with CBD Energy Ltd. Should
events occur or information come to light that call into question
whether the proposed merger will close by that date or whether CBD will
qualify for listing on the NASDAQ Stock Market, the Company is to
inform the Panel, which may determine at that time to delist the
Company's shares if the Company is not fully in compliance with the
requirements for listing.
This notification related to a hearing held on May 24, 2012. The
hearing was requested by the Company to request that the Panel grant
the Company additional time to regain compliance with the minimum bid
price and other listing requirements.
Further information regarding this notification is included in a
Current Report on Form 8-K filed by the Company on June 21, 2012.
About Westinghouse Solar (Nasdaq:WEST)
Westinghouse Solar is a designer and manufacturer of solar power
systems. In 2007, Westinghouse Solar pioneered the concept of
integrating the racking, wiring and grounding directly into the solar
panel. This revolutionary solar panel, originally branded "Andalay",
quickly won industry acclaim. In 2009, the company again broke new
ground with the first integrated AC solar panel, reducing the number of
components for a rooftop solar installation by approximately 80 percent
and lowering labor costs by approximately 50 percent. This first AC
panel, which won the 2009 Popular Mechanics Breakthrough Award, has
become the industry's most widely installed AC solar panel.
Award-winning Westinghouse Solar Power Systems provide the best
combination of safety, performance and reliability, while backed by the
proven quality of the Westinghouse name. For more information on
Westinghouse Solar, visit www.westinghousesolar.com.
The Westinghouse Solar logo is available at:
CONTACT: Company Contact:
Margaret Randazzo, Chief Executive Officer
Investor Relations Contact:
Matthew Selinger, Partner