Breaking News

CIT to Buy OneWest Bank for $3.4 Billion in Cash and Stock
Tweet TWEET

DayStar Technologies, Inc. (DSTI) Announces Debt Reduction Agreement of $3.9 Million

DayStar Technologies, Inc. (DSTI) Announces Debt Reduction Agreement of $3.9 
Million 
KELOWNA, BC -- (Marketwire) -- 03/19/13 --  DayStar Technologies,
Inc. ("DayStar" or the "Company") (NASDAQ: DTSI) announced today an
agreement to exchange indebtedness for common stock, which resulted
in the Company increasing its net worth by approximately $3.9
million. 
The transaction consisted of the exchange of approximately $3.9
million of indebtedness (including accrued interest) held by Peter A.
Lacey, former Chairman of the Board and interim CEO for DayStar, for
shares of common stock valued at $1.20 per share. 
Commenting on the transition, Lorne Roseborough, President of
DayStar, said, "We are very pleased with this transaction which
strengthens the Company's balance sheet. This transaction reflects
our commitment and support of the Company's goals. We are excited
about our Global Renewable Utility Market concept, and a cleaner
balance sheet will help facilitate that growth." 
About DayStar Technologies, Inc.  
DayStar Technologies, Inc. (DSTI) is a developer of solar
photovoltaic products and has assembled a world-class team of project
engineers, and industry finance professionals, to facilitate the
complete development of renewable energy projects throughout the
world. DayStar is currently embarking on a strategy of strategic
partnerships to enter new markets within the global renewal energy
industry including ownership and construction of solar and renewable
power plants. For more information, visit the DayStar website at
http://www.daystartech.com/.  
For corporate information, contact Mr. Dan Giesbrecht, VP Business
Development, info@daystartechinc.com, 778-484-5159.  
For Investor Relations, contact Mr. William Nalley, Orsay Groupe,
info@orsaygroupe.com, phone 305-515-8077.  
Safe Harbor: Statements contained in this news release which are not
historical facts may be forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by the fact that they do
not relate strictly to historical or current facts. They often
include words like "believe," "expect," "anticipate," "estimate" and
"intend" or future or conditional verbs such as "will," "would,"
"should," "could" or "may." We undertake no obligation to update any
forward-looking statements.  
Contact:
William Nalley
305-515-8077