Radar Acquisitions Corp.

Radar Acquisitions Corp.

May 16, 2008 18:01 ET

Radar Acquisitions Announces Termination of Term Sheet Between RPS and D&E

CALGARY, ALBERTA--(Marketwire - May 16, 2008) - Timothy Bergen, President and CEO of Radar Acquisitions Corp. ("Radar") (TSX VENTURE:RAC), advises that the term sheet between RPS Fuels, LLC ("RPS") (the company Radar has formed with its joint venture partner New Energy US, LLC) and D&E Mining, LLC, to purchase the company and assets of D&E Mining, LLC, has been terminated (see press release dated January 29, 2008).

About Radar Acquisitions Corp.

Radar is a diversified natural resource development company focused on growth through the acquisition, exploration and development of resources and resource related technologies. Radar is focused on a joint venture agreement it has with New Energy USA, LLC, to develop engineered solid fuel products (Re-Fuel™).

The Re-Fuel™ technology is a patent pending process that combines coal waste with bio-mass to produce an engineered solid fuel product - Re-Fuel™ - a competitively priced product that looks and behaves like coal, but burns much cleaner.

Re-Fuel™ will benefit the environment through the reclamation of coal slurry and other bio-refuse in the production phase and cleaner stack and ash emissions in the power generation phase. Production of Re-Fuel can qualify the producing joint venture company for a variety of tax credits while providing coal waste owners/suppliers with a significant benefit by decreasing site reclamation costs. Users of Re-Fuel™ will benefit from a competitively priced, cleaner, more efficient product that may also make them eligible for substantial carbon credits.

All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the Alberta Securities Commission and the British Columbia Securities Commission.

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

Contact Information

  • Radar Acquisitions Corp. - Corporate Head Office
    Timothy J. Bergen
    (403) 262-3797 or Toll Free: 1-877-262-5888
    Email: tbergen@radar.ab.ca
    Ascenta Capital Partners Inc.
    Bryson Goodwin
    Investor Relations
    (604) 684-4743 ext 239 or Toll Free: 1-866-684-4209
    Email: bryson@ascentacapital.com