WorldWater & Power Corp. (OTCBB: WWAT), a developer and marketer of proprietary high-power solar systems, has canceled the $6.9 million financing with an institutional investor, previously announced May 16, 2006, due to the proposed terms and market conditions.
The Company is reviewing other funding alternatives that offer more attractive terms and appropriately value WorldWater’s existing backlog and business outlook. WorldWater is committed to its shareholders and to serving its expanding customer base as expeditiously as possible.
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