Canadian Solar Completes US$119 Million Follow-on Offering

On July 22, 2008, Canadian Solar Inc. completed an offering of 3,500,000 common shares for proceeds of US$119 million. The offering was underwritten by Piper Jaffray & Co. and Deutsche Bank Securities Inc. Canadian Solar is a major global provider of solar power products for a wide range of applications. Canadian Solar, which trades on the NASDAQ Global Market, is incorporated in Canada and conducts all of its manufacturing operations in China.

Canadian Solar was advised on Canadian legal matters by WeirFoulds LLP by Wayne Egan (securities and corporate), Ryan Filson (corporate) and Maralynne Monteith (tax), and on US legal matters by Latham & Watkins LLP with a team led by David Zhang.

Piper Jaffray & Co. and Deutsche Bank Securities Inc. were advised on Canadian legal matters by Stikeman Elliott LLP by Ron Ferguson, Gordon Cameron, Robert Notkin (corporate), Kevin Kelly and Jonathan Willson (tax) and represented on US legal matters by Wilson Sonsini Goodrich & Rosati, P.C.'s John Fore, Alexander Kolar and Morgan Hayes (corporate).