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SOPV news from today!

PONTE VEDRA BEACH, FL, Oct 12, 2010 (MARKETWIRE via COMTEX) -- Solar Energy Initiatives, Inc. /quotes/comstock/11k!snry (SNRY 0.17, +0.03, +18.41%) , with businesses in solar project development, distribution and workforce training, today announced that the company intends to distribute shares of Solar Park Initiatives /quotes/comstock/11k!sopv (SOPV 0.50, -0.07, -12.28%) . SNRY will file a registration statement during the fourth quarter of 2010 with the U.S. Securities and Exchange Commission (SEC), which will enable SNRY to distribute SOPV shares upon being declared effective.

Under the spin-off agreement, Solar Energy Initiatives' shareholders as of market close on October 29, 2010 will receive one share of Solar Park Initiatives for every two shares of Solar Energy Initiatives that they own. Upon the Registration Statement being declared effective by the SEC, Solar Energy Initiatives will distribute the shares of Solar Park Initiatives /quotes/comstock/11k!sopv (SOPV 0.50, -0.07, -12.28%) common stock to SNRY stakeholders.