... of up to $1,500,000 Bridge Loan

Press Release Source: ARISE Technologies Corporation On Tuesday November 1, 2011, 2:16 pm EDT

WATERLOO, ON, Nov. 1, 2011 /CNW/ - ARISE Technologies Corporation (TSX: APV and Frankfurt: A3T) ("ARISE" or the "Company"), a leader in high-performance, high-quality, cost-effective solar technology, today announced that the Company has closed the second tranche of $200,000 of the previously announced bridge loan ("Bridge Loan") from Radiant Offshore Fund Ltd ("Radiant"). The funds have now been advanced to ARISE. In total ARISE has received $350,000 from the first two tranches of the Bridge Loan.

As stated in the media release of October 18, 2011 , the purpose of the Bridge Loan is to provide working capital bridge financing to Canadian operations of the Company. The Bridge Loan bears interest at a rate of 12.0% per annum.

In addition, Haverstock Master Fund Ltd. has agreed to extend the maturity date of the Haverstock bridge loan to the Company from November 30 to December 15 , 2011. All other terms of the Haverstock bridge loan remain as previously announced October 18, 2011 .

The Company will continue to provide regular updates to its shareholders on the progress of the Company's negotiations in relation to the proposed business combination.

About Radiant
Radiant Investment Management Ltd. (RIML) is an event-driven hedge fund that employs a variety of strategies to generate alpha returns for its investors. RIML made their first investment in Arise Technologies in June 2010 and continues to be supportive of management and their direction. RIML's head office is located in Toronto , Canada and RIML has onshore and offshore funds.

About Haverstock
Haverstock is an institutional investor with an investment objective to seek capital appreciation through the general strategy of investing in public securities of U.S. and non-U.S. companies, through direct equity purchases from such companies. The portfolio manager of Haverstock, David Ratzker, has structured more than US$300 million worth of private equity investments in publicly traded corporations in a variety of sectors including energy, cleantech, telecommunications, consumer, and education.

About ARISE Technologies
ARISE Technologies Corporation, based in Waterloo, Ontario, is dedicated to becoming a leader in high-performance, cost-effective solar technology. The company consists of three divisions. The PV (photovoltaic) cell manufacturing division (ARISE Germany ) is located in Bischofswerda, Germany. As previously announced ARISE Germany has entered into a voluntary insolvency process under German law. The PV silicon division is using a proprietary method to produce silicon at 7N+ high-purity (99.99999% purity) for PV cell applications, based on a simplified chemical vapor deposition process. The division is focusing on scaling up its process to provide ARISE with control over its supply, costs, and quality. The PV systems division has been providing rooftop and ground-mounted PV solutions since 1996. ARISE continues to operate its systems business in Ontario under the Ontario FIT (Feed-In Tariff) program.

The company's shares are listed on the Toronto Stock Exchange under the symbol APV and on the Frankfurt Open Market Exchange under the symbol A3T. Additional information is available at www.arisetech.com and www.sedar.com.

Forward-Looking Statements and Risk Factors
Certain statements in this news release may be considered to be forward-looking. Such statements are based on management's current expectations, estimations, and assumptions based on experience, trends, and other factors that are subject to the significant risks and uncertainties described in our regulatory filings. Please refer to these. Such risks and uncertainties may include, but are not limited to, the effects of general economic conditions, changing foreign exchange rates, actions by government authorities, the requirement for additional capital, risks associated with manufacturing, industry supply levels, competitive pricing pressures and misjudgements in the course of preparing forward-looking statements.

Risk factors relating to ARISE are discussed in the Risk Factors section of the (final) prospectus supplement, ARISE's Annual Information Form and under the headings Liquidity and Capital Resources and Risk and Uncertainties in ARISE's year-end Management's Discussion and Analysis which are or will be available at www.sedar.com. These factors should be considered carefully, and readers should not place undue reliance on ARISE's forward-looking statements.

ARISE assumes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements.