Radiant Energy Corporation
TSX VENTURE : RDT

Radiant Energy Corporation

August 19, 2009 16:47 ET

Radiant Announces Subsequent Closing of Debenture Offering With Insider

TORONTO, ONTARIO--(Marketwire - Aug. 19, 2009) -

NOT FOR DISTRIBUTION IN THE UNITED STATES

Radiant Energy Corporation, (TSX VENTURE:RDT) ("Radiant") announced that on August 18, 2009 it completed a further closing of its previously announced offering (the "Offering") of secured debentures (the "New Debentures") for gross proceeds of Cdn$100,000 with David Williams, a director and the President of Radiant, as announced on August 7, 2009. The net proceeds of the Offering will be used to address Radiant's immediate working capital needs while it continues to further its marketing and sales initiatives in respect of its Radiant Deicing Systems. The New Debentures mature two years from the date of their issue with an interest rate of 12% per annum and are secured by the assets of Radiant and its U.S. operating subsidiary, Radiant Aviation Services, Inc. Radiant also has the option, under certain conditions, to pay interest owing pursuant to the New Debentures in common shares of Radiant. Radiant also issued 400,000 of its common shares (the "Bonus Shares") as a bonus to the investor participating in the Offering. Radiant may complete a further closing of this Offering in late August.

The Offering is subject to the final approval of the TSXV. The New Debentures and Bonus Shares issued in conjunction with this closing of the Offering are subject to a four-month hold period expiring December 18, 2009.

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.

Contact Information

  • Radiant Energy Corporation
    David Williams
    President and Chairman
    416.922.8778