Radar Acquisitions Corp.

Radar Acquisitions Corp.

June 06, 2008 09:30 ET

Radar Acquisitions Appoints Jos De Smedt as New Chief Financial Officer

CALGARY, ALBERTA--(Marketwire - June 6, 2008) - Timothy Bergen, President and CEO of Radar Acquisitions Corp. ("Radar") (TSX VENTURE:RAC) is pleased to announce that Mr. Jos De Smedt has been appointed the new Chief Financial Officer of the company. In conjunction with the appointment, Trent Fedak, the former Chief Financial Officer, is resigning to pursue other interests. Radar would like to thank Mr. Fedak for the time he served as Chief Financial Officer.

Mr. De Smedt has been a business consulting partner with IBM Canada Global Business Services since 2002 and brings more than 20 years of experience in the finance/accounting/auditing and management consulting industry. He started as a Chartered Accountant in Belgium with increasing responsibilities for major publicly traded companies; he became a partner with PricewaterhouseCoopers Canada in 1998. Building on his experience with both medium-sized and multinational companies and their respective processes, systems and executive management, Mr. De Smedt became increasingly involved with providing consulting services--particularly in the areas of process reengineering, restructuring, system implementations and project management for finance and accounting related initiatives. In 2000, he took over responsibility for the Travel & Transportation industry consulting practice for the Canadian marketplace. Prior to taking on a management consulting role and his industry leadership role, Mr. De Smedt worked in the Audit and Business Advisory Services practice of PricewaterhouseCoopers in Brussels, Belgium and Montreal and Calgary, Canada. In this capacity he held senior manager responsibilities for major audit engagements and financial due diligence assignments.

"The appointment of Jos as the new CFO strengthens Radar's management and executive capabilities," stated Tim Bergen, President & CEO of Radar. "He will not only take on the financial responsibilities for the Company but also assist with advancing our joint venture with New Energy USA, LLC."

Mr. De Smedt has been issued 400,000 stock options at a strike price of $0.25. The options, issued in accordance with Radar's stock option plan, are valid for five years and subject to vesting as set forth in the agreement. Radar has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 are available for the grant of options.

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. The company is focused on a joint venture agreement it has with New Energy USA, LLC, to develop engineered solid fuel products (Re-Fuel) using a combination of coal slurry pond waste and biomass.

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