Ryjencap Inc.
TSX VENTURE : RYJ.P

May 15, 2006 17:37 ET

Ryjencap Inc. Announces the Closing of the Non Brokered Portion of Private Placement by Empire Iron Works Ltd.

SURREY, BRITISH COLUMBIA--(CCNMatthews - May 15, 2006) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Further to its news release of May 9, 2006, Ryjencap Inc., a capital pool company ("Ryjencap") (TSX VENTURE:RYJ.P) announces that Empire Iron Works Ltd. ("Empire Iron") has successfully closed the non-brokered portion of its private placement. A total of $2,075,950 was successfully raised by Empire Iron, resulting in the issuance of 4,611,000 shares, at a price of $0.45 per share. On the closing of this portion of the private placement, Empire Iron has 46,000,000 shares issued and outstanding.

Completion of Ryjencap's Qualifying Transaction is subject to a number of conditions, including but not limited to, completion of financing, and "majority of the minority" shareholder approval. The Qualifying Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular to be prepared in connection with the Qualifying Transaction, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.



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

Contact Information

  • Ryjencap Inc.
    Mr. Terry Rogers
    President and CEO
    (604) 531-8113