VioSolar Inc. Signs Memorandum of Understanding to Purchase an Operating Photovoltaic Solar Company in Greece

ATHENS, Greece--(Business Wire)--
VioSolar Inc. (OTCBB-VIOSF; Frankfurt-SDE-F) is pleased to announce that it has
signed an irrevocable memorandum of understanding (MOU) with a privately held
Greek corporation (`target company`) to purchase eighty-five percent of its
shares.

The target company has 100 kilowatts of production and licenses to build an
additional 1 megawatt, with 200 kilowatts in the construction phase.

"We are very pleased with the result of this acquisition, as it establishes
VioSolar as a valid player in the photovoltaic sector in Greece." stated Rick
Walchuk, President and CEO. "Greece is an excellent market, with its high
feed-in-tariffs and government grant policy. We are also pleased that the
founder and majority shareholder of the target company will remain as an
integral part of the company. His knowledge and experience will be a valuable
asset for VioSolar Inc. going forward".

"Concurrent with this MOU we are in discussions on a number of other projects in
Greece and hope to announce further acquisitions in the near future. Our
management team and consultants have identified several promising targets and
have negotiations ongoing." also stated Mr. Walchuk.

Closing of the transaction is expected to take two weeks at which time VioSolar
expects to release further details.

About VioSolar Inc.

VioSolar Inc. is an alternative energy company, with activities in the
Photovoltaic Solar Energy sector. The Company`s business plan includes the
construction, management and operation of Solar Parks in Greece and throughout
other South and South Eastern European Union countries. VioSolar Inc. intends to
take advantage of the numerous incentives in this sector offered by various
European countries, following the general policy decided by the European Union
and the relevant directives forwarded to all European Union members.

VioSolar Inc.
Rick Walchuk, President/CEO
rick@viosolar.com
or
info@viosolar.com
www.viosolar.com

Copyright Business Wire 2009