Raystar Capital Ltd.
NEX BOARD : RYA.H

October 23, 2007 20:08 ET

Raystar Capital Ltd.: News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 23, 2007) - Raystar Capital Ltd. (the "Company") (NEX:RYA.H) is pleased to announce a non-brokered private placement of 2,500,000 million units at a price of $0.20 per unit for gross proceeds of $500,000. Each unit will consist of one common share and one common share purchase warrant, each warrant entitling the holder to purchase a further share at a price of $0.30 per share for a period of one year from closing of the private placement. Following the private placement, the Company will have approximately 13,084,313 common shares issued and outstanding. Proceeds from the private placement will be used for general working capital. The private placement is subject to acceptance for filing by the TSX Venture Exchange.

The Company's shareholders approved the change of the name of the Company to Raystar Capital Ltd. at the Company's extraordinary general meeting held on October 5, 2007.

RAYSTAR CAPITAL LTD.

Edward Farrauto, Chief Executive Officer

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

Contact Information

  • Raystar Capital Ltd.
    Edward Farrauto
    Chief Executive Officer
    (604) 687-3992