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April 27, 2015 6:32 AM ET

Independent Power and Renewable Electricity Producers

Company Overview of Coronus Solar, Inc.

Company Overview

Coronus Solar Inc., a development stage company, focuses on the ownership, deployment, and operation of utility-scale solar photovoltaic power systems in the state of California. The company was formerly known as InsightfulMind Learning, Inc. and changed its name to Coronus Solar Inc. in November 2009. Coronus Solar Inc. was founded in 2001 and is headquartered in Vancouver, Canada.

1200 West 73rd Avenue

Suite 1100

Vancouver, BC V6P 6G5

Canada

Founded in 2001

1 Employees

Phone:

604-267-7078

Key Executives for Coronus Solar, Inc.

Chief Executive officer, President, Chief Financial officer, Principal Accounting officer, Treasurer, Secretary, Director, Chairman of Disclosure Committee, Member of Audit Committee, Chairman of Coronus Energy Corp and Chief Executive officer of Coronus Energy Corp
Age: 46
Compensation as of Fiscal Year 2014.

Coronus Solar, Inc. Key Developments

Coronus Solar, Inc. announced delayed 10-Q filing

On 08/15/2013, Coronus Solar, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Coronus Solar, Inc. Announces Extension of Loan Maturity Date

Coronus Solar Inc. announced that, on July 30, 2013, the parties extended again the Maturity Date under the Loan the Company entered into with Clean Focus on December 20, 2012. The Note is now due on the earlier of 31 days after the total Advances equal USD 4,000,000.00 or August 9, 2013. As reported on July 2, 2013, on June 12, 2013, the San Bernardino County Board of Supervisors approved a 45-day temporary moratorium on approval of commercial solar energy generation projects. The purpose of the moratorium is to prevent establishment of commercial solar energy generation projects that may be incompatible with existing land uses, while the County contemplate potential amendments to the Development Code for the purpose of ensuring and enhancing compatibility between solar energy generation projects and surrounding land uses. Coronus projects 29-Palms North, Yucca Valley East, Joshua Tree East, and Apple Valley East are subject to the moratorium. Coronus project Adelanto West is not. As the company reported, the moratorium may be extended by further action of the Board of Supervisors, initially for ten months and 15 days and then again for one year. As a consequence of the moratorium extension, Coronus formally withdrew its Southern California Edison (SCE) interconnection requests for Coronus solar PV systems 29-Palms North 2 and 3. The interconnection time stipulated in the combined system impact and facility study reports for these two systems is 12 months. To meet these interconnection timelines, without exceeding the drop dead timelines of the systems' power purchase agreements (CREST PPAs), Coronus would need to start construction now, without delay. In the face of the San Bernardino County permit approval moratorium, this is not possible. As a consequence of the interconnection request withdrawals, Coronus is entitled to a release of the interconnection financial security postings Coronus deposited with SCE in respect of these two projects, in the cumulative amount of USD 864,600, less the costs, if any, SCE charged to these two projects. As a consequence of the moratorium extension, Coronus also put a formal request to SCE to terminate the CREST PPAs in respect of these two projects, and asked SCE to return to Coronus the development securities Coronus posted with SCE under the CREST PPAs, in the amounts of USD 38,250 and USD 38,250, respectively.

Coronus Solar, Inc., Annual General Meeting, Sep 16, 2013

Coronus Solar, Inc., Annual General Meeting, Sep 16, 2013., at 10:00 Pacific Standard Time. Location: Suite 1600, 609 Granville St. Agenda: To receive and consider the audited financial statements of the company for the fiscal year ended March 31, 2013, and the auditor's reports thereon; to elect directors for the ensuing year and to fix the number of directors for the ensuing year at three; to re-appoint MNP LLP, as the company's auditor for the ensuing year and to authorize the directors to fix the remuneration to be paid to the auditor; to approve adoption of a 10% rolling stock option plan; to consider the sale by the company of all of the issued and outstanding shares of its wholly-owned subsidiary, Coronus Energy Corp.; and to transact such other business as may properly come before the meeting.

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