Redstone Capital Corp.

May 29, 2006 16:36 ET

Redstone Capital Corp. Announces Receipt of Final Bulleting and Resumption of Trading

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 29, 2006) - Redstone Capital Corp. ("Redstone") (TSX VENTURE:REC.P) is pleased to announce that it has received the final TSX Venture Exchange (the "Exchange") bulletin dated May 26, 2006 (the "Exchange Bulletin") confirming that the Exchange has accepted for filing Redstone's qualifying transaction and brokered private placement, both of which were previously announced.

Pursuant to the Exchange Bulletin, trading in shares of Redstone on the TSX Venture Exchange resumed on Monday, May 29, 2006, at which time Redstone was no longer considered a Capital Pool Company.

As disclosed in Redstone's filing statement dated May 1, 2006 (the "Filing Statement"), Redstone has granted an aggregate of 361,500 stock options to directors, officers and employees of Redstone and its subsidiaries. The holders of the options are entitled to purchase Redstone common shares at an exercise price of $0.80 per common share for a period of five (5) years from the date of issuance.

As a result of the Acquisition, and as disclosed in Filing Statement, the auditor for Redstone will no longer be Davidson & Company, Chartered Accountants. The new auditor for Redstone will be HLB Cinnamon Jang Willoughby & Company of Vancouver, British Columbia. HLB Cinnamon Jang Willoughby & Company is currently the auditor for Fireswirl Systems Inc.

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

Contact Information

  • Redstone Capital Corp.
    Tony Lau
    President and Chief Executive Officer
    (604) 696-2069