Etrion Corporation Redeems EUR 60 million of Corporate Bonds

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| Source: Etrion Corporation
May 20, 2014, Geneva, Switzerland – Etrion Corporation (“Etrion” or the
“Company”) (TSX: ETX / OMX: ETX), a solar independent power producer, has
completed the redemption of its EUR 60 million of corporate bonds issued in 2011
that paid 9.0% annual interest and were to mature in April 2015 with ISIN
NO0010607302 (“ETRION01 PRO”).

The 2011/2015 bonds were redeemed at 101% of par plus accrued interest using a
portion of the proceeds from Etrion’s recently issued EUR 80 million of senior
secured bonds that have an annual interest rate of 8.0% and mature in April
2019.

The Company has filed a final listing prospectus for the new 2014/2019 bonds
with the Financial Supervisory Authority of Norway, and the bonds are expected
to be admitted to listing on the Oslo Stock Exchange (“OSE”) by May 23, 2014,
subject to final OSE approval.

About Etrion

Etrion Corporation is an independent power producer that builds, owns and
operates utility-scale solar power generation plants. Etrion owns 17 solar power
plants in Italy with approximately 60 MW of installed capacity. Etrion is also
developing greenfield solar power projects in Chile and Japan. The Company is
listed on the Toronto Stock Exchange in Canada and the NASDAQ OMX Stockholm
exchange in Sweden under ticker symbol “ETX”. Etrion’s largest shareholder is
the Lundin family, which owns approximately 24% of the Company’s shares directly
and through various trusts.

For additional information, please visit the Company’s website at www.etrion.com
or contact:

Pamela Chouamier – Investor Relations

Telephone: +41 (22) 715 20 90

Etrion discloses the information provided herein pursuant to the Swedish
Securities Market Act. The information was submitted for publication at 08.05
CET on May 20, 2014.

FORWARD LOOKING INFORMATION

This press release contains certain “forward-looking information” within the
meaning of applicable Canadian securities laws. All statements, other than
statements of historical fact, that address activities, events or developments
that the Company believes, expects or anticipates will or may occur in the
future (including, without limitation, statements relating to the anticipated
listing of the new bonds on the Oslo Stock Exchange) constitute forward-looking
information. This forward-looking information reflects the current expectations
or beliefs of the Company based on information currently available to the
Company. Reliance should not be placed on forward-looking information. Forward
-looking information is subject to a number of significant risks and
uncertainties and other factors that may cause the actual results of the Company
to differ materially from those discussed in the forward-looking information,
and even if such actual results are realized or substantially realized, there
can be no assurance that they will have the expected consequences to, or effects
on the Company. Factors that could cause actual results or events to differ
materially from current expectations include, but are not limited to, the
failure to obtain the required approvals necessary to complete the listing of
the bonds on the Oslo Stock Exchange.

Any forward-looking information speaks only as of the date on which it is made
and, except as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward-looking information,
whether as a result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the forward
-looking information are reasonable, forward-looking information is not a
guarantee of future performance and accordingly undue reliance should not be put
on such information due to the inherent uncertainty therein.