Universal Infrastructure Corp.
TSX VENTURE : UIC.P

Global Alternative Investments Inc.
TSX VENTURE : GLI.P

July 31, 2009 14:52 ET

Universal Infrastructure Corp. (TSX VENTURE:UIC.P) and Global Alternative Investments Inc. (TSX VENTURE:GLI.P) Announce Update Regarding Timing for Qualifying Transaction With Ra Resources Ltd.

TORONTO, ONTARIO--(Marketwire - July 31, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES

Universal Infrastructure Corp. ("Universal") (TSX VENTURE:UIC.P) and Global Alternative Investments Inc. ("Global") (TSX VENTURE:GLI.P) (collectively, the "CPCs") announce that the CPC's have entered into an amended and restated letter of intent with Ra Resources Ltd. ("Ra") with respect to the CPC's proposed acquisition of all of the issued and outstanding securities of Ra (the "Acquisition"), as previously announced in the CPCs' joint press releases dated June 11 and June 22, 2009.

The amended and restated letter of intent extends the deadline for completing the Acquisition to October 13, 2009 and accordingly updates the deadlines for the completion of other events related to the Acquisition. All other terms of the Acquisition remain unchanged.

Completion of the Acquisition is subject to a number of conditions, including but not limited to, Exchange acceptance and, if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. The Acquisition cannot close until the required shareholder approval is obtained. There can be no assurance that the Acquisition will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the Information Circulars of Global, Universal and Ra to be prepared in connection with the Acquisition, any information released or received with respect to the Acquisition may not be accurate or complete and should not be relied upon. Trading in the securities of Global and Universal should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the Acquisition and has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Ra Resources Ltd.
    Suzanne Abate
    Secretary
    416.272.4860
    or
    Universal Infrastructure Corp.
    and Global Alternative Investments Inc.
    Paolo De Luca
    Chief Financial Officer
    416.214.5985