Rain Resources Inc.
TSX VENTURE : RAN.P

August 26, 2009 09:00 ET

Rain Resources Inc.: Letter of Intent for Qualifying Transaction

CALGARY, ALBERTA--(Marketwire - Aug. 26, 2009) - Rain Resources Inc. (the "Corporation" or "Rain") (TSX VENTURE:RAN.P), is pleased to announce that it has entered into an arm's length letter of intent (the "LOI") with an arm's length private oil and gas company to complete a Qualifying Transaction pursuant to Policy 2.4 of the Corporate Finance Manual of the TSX Venture Exchange (the "Exchange"). As a result of the LOI the Corporation has requested the common shares be halted in accordance with the Exchange Policies. Pursuant to the LOI, the parties have agreed to the essential terms of the transaction which will be disclosed in a subsequent press release once the Exchange has received and reviewed certain information in accordance with their Policies. The trading of the common shares of the Corporation will remained halted until such future date as the Exchange may determine.

Cautionary Statements

Completion of the transaction is subject to a number of conditions including, but not limited to, the parties entering into a definitive agreement, Exchange acceptance and, if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon.

Trading in the securities should be considered highly speculative.

The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Rain Resources Inc.
    Ryan Spong
    Chief Executive Officer and Director
    (604) 675-9077
    or
    Rain Resources Inc.
    Murray K. Atkins
    Director
    (403) 816-3555