updated 11/16/2010 9:46:23 AM ET 2010-11-16T14:46:23

VANCOUVER, British Columbia, Nov. 16, 2010 (GLOBE NEWSWIRE) -- RainChief Energy (RainChief) (OTCQB:RCFEF) is pleased to announce that it has executed an agreement with merchant bank Ubequity Capital Partners.

RainChief has retained Ubequity Capital under a two-year contract to assist in the identification of suitable parties to invest in RainChief as it immediately begins to secure project permits and authorizations with turnkey partners in the development of PV photovoltaic solar energy projects in Italy and throughout the European Union.

"This is a positive step for our company," stated RainChief President, Brad Moynes. "It aligns us with an institutional financial partner that is engaged in funding as well as providing operational support to renewable solar energy companies like RainChief."

For further information about Ubequity Capital Partners please visit their official corporate website: www.ubequitycapital.com .

PV Solar-Generated Power Defined:

PV solar-generated power is universally recognized as one of the most environmentally friendly technologies for power generation today. Combining soundless operations in an environment where more than 90% of the natural landscape survives and thrives after project construction, solar has been called the perfect renewable energy source. Solar modules or panels produce direct current (DC) electrical energy from sunlight – and daylight. Inverter systems convert the DC into alternating current (AC) which is fed into the public power system or grid. The generated power is paid for at a per kilowatt-hour (kWh) rate according to the applicable feed-in-tariff (FiT) and energy rates.

About RainChief:

RainChief is a Canadian based independent power producer that is currently engaged in the development of PV photovoltaic solar energy installation projects in Italy and the European Union. RainChief and partners have the combined capabilities to manage and direct all key steps in the selection, authorization, financing, development and operations of PV solar power projects. Key operation partners, plus project suppliers and contractors have been identified for all key areas of project development, engineering and construction.

Forward-Looking Information:

This press release contains certain "forward-looking information". 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 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. 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 possibility of unanticipated costs and expenses. 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.

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