Recently information concerning negotiations between Samsung C and T Corporation and the Government of Ontario has prematurely entered the public domain.

Both parties regret that months of extraordinarily cooperative effort have become known even while serious discussions are ongoing.

However, both Samsung C and T Corporation and the Government of Ontario are pleased to confirm that efforts are progressing well toward the signing of a historic framework agreement.

While the contents of the proposed agreement remain commercially sensitive, both parties can confirm that Samsung, one of the world's leading companies, proposes to establish a new renewable energy business in Ontario where the Feed in Tariff was recently launched as part of the Green Energy Act.

The substantial scale of the proposed investment would be a very early sign of success of the Green Energy Act and would lead to the establishment of new manufacturing capacity in Ontario.

Both parties are committed to a more formal public presentation once a framework agreement has been completed.