Radiant Energy Corporation

Radiant Energy Corporation

April 06, 2010 00:04 ET

Radiant Announces Proposed Consolidation of Common Shares

TORONTO, ONTARIO--(Marketwire - April 6, 2010) -


Radiant Energy Corporation, (TSX VENTURE:RDT) ("Radiant" or the "Corporation") announces that it has scheduled a special and annual general meeting (the "Meeting") of shareholders for April 27, 2010 whereby shareholders will be asked, among other items of business, to provide the board of directors (the "Board") of Radiant with the authority to amend the articles of the Corporation to provide for the consolidation of the common shares of the Corporation (the "Common Shares") on the basis of one (1) new common share for every twenty five (25) existing Common Shares issued and outstanding (the "Consolidation").

If the Consolidation is approved by Radiant's shareholders and subsequently implemented by the Board, the number of issued and outstanding Common Shares will be significantly reduced from 229,562,440 Common Shares to approximately 9,182,498 Common Shares. Furthermore, each stock option or other security of the Corporation convertible into pre-consolidation Common Shares (the "Convertible Securities") that has not been exercised or cancelled prior to the effective date of the implementation of the Consolidation will be adjusted pursuant to the terms thereof on the same exchange ratio described above and each holder of pre-consolidation Convertible Securities will become entitled to receive post- consolidation Common Shares pursuant to such adjusted terms.

Management of Radiant believes that the Consolidation of the Common Shares could enhance their marketability as an investment and could facilitate additional financings to fund operations in the future, among other things.

The Consolidation remains subject to approval by the TSX Venture Exchange and a further press release will be issued in the event the Consolidation receives the requisite approval of Radiant's shareholders.

Further details regarding the Consolidation are described in Radiant's management information circular and related proxy materials available on SEDAR at www.sedar.com.

About Radiant Energy Corporation

Radiant is the developer and marketer of Radiant Deicing Systems. Radiant's product is the only non- glycol based alternative approved by the US Federal Aviation Administration for the pre-flight ground deicing of aircraft. Aircraft deicing with Radiant's technology offers savings to airports and airlines over the use of conventional glycol-based deicing systems, reducing aircraft treatment costs and significantly reducing the negative impact of glycol on the environment.

This press release may contain forward-looking statements, including statements regarding the business and anticipated financial performance of Radiant Energy Corporation, which involve risks and uncertainties. These risks and uncertainties may cause Radiant's actual results to differ materially from those contemplated by the forward-looking statements. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

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