Royal Laser Corp.

Royal Laser Corp.

April 11, 2006 09:15 ET

Alex Shnaider Appointed Chairman of Royal Laser Corp.

TORONTO, ONTARIO--(CCNMatthews - April 11, 2006) -


Royal Laser Corp. ("Royal Laser") (TSX:RLC) is pleased to announce today that Mr. Alex Shnaider has joined the board of directors of Royal Laser as Chairman. Mr. Shnaider is the Co-Founder and Chairman of the Midland Group of Companies (, one of the world's leading industrial conglomerates with interests in a broad range of industries including: steel production and trading, real estate and shipping. Mr. Shnaider's appointment is subject to regulatory approval.

Commenting on his appointment as Chairman, Bill Iannaci, CEO of Royal Laser stated: "We are very pleased to have a world-class entrepreneur join our company as Chairman. Mr. Shnaider's approach to business has brought resounding success in a number of ways to his multi-national enterprise. Royal Laser is looking forward to sharing in this success. Mr. Shnaider's knowledge of the world-wide steel business will give us an added edge, as we integrate Venture Steel Inc. into our business operations."

In connection with his appointment to the board, Royal Laser has agreed, subject to regulatory approval, to loan Mr. Shnaider $3,619,000, on a limited recourse basis, to purchase 2,350,000 common shares of Royal Laser from treasury at a price of $1.54 per share, on a private placement basis and has issued to Mr. Shnaider options to purchase 1,650,000 shares at an exercise price of $1.57 per share.

Royal Laser also announces that Mr. Joseph Mimram has chosen to step down as Chairman of the Board but will remain a director of Royal Laser. Mr. Mimran commented, "It has been very gratifying to have been Chairman of such a fast growing and dynamic company as Royal Laser. Given the new markets that we are entering, I look forward to handing over the Chairmanship to a new individual who will be able to take our company to the next level." In addition, Mr. A. Murray Sinclair has resigned from the Board of Royal Laser.

About Royal Laser

Royal Laser, through its wholly owned operating subsidiaries, manufactures custom metal and wood products targeted at the multi-billion dollar high-end retail in-store development industry, the OEM industrial products, automotive and construction industries, in Canada, the United States and increasingly, overseas. Royal Laser employs state-of-the-art industrial technology to fabricate custom and standardized metal and wood products, including robotic wood finishing lines, advanced laser-based computer-integrated manufacturing systems and advanced stamping presses. In addition to contract manufacturing services, Royal Laser provides value-added engineering and design services.

Forward Looking Statements

This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. When used herein, words such as "intend" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on assumptions by and information available to Royal Laser. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include risks and factors as are detailed from time to time in the Royal Laser's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. Actual results may differ materially from those currently anticipated. Royal Laser has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained herein are expressed qualified by this cautionary statement.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

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