Radar Acquisitions Corp.

Radar Acquisitions Corp.

October 28, 2009 19:28 ET

Radar Acquisitions Corp. Announces Completion of $500,000 Private Placement

CALGARY, ALBERTA--(Marketwire - Oct. 28, 2009) - Radar Acquisitions Corp. ("Radar") (TSX VENTURE:RAC), is pleased to announce that Radar has completed a non-brokered private placement offering of 5,885,000 units at a price of $0.085 per unit for gross proceeds of $500,225. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at a price of $0.15 for a period of one year from the date of the issuance of the Units.

Total finder's fees of $39,678 and 466,800 finder's warrants were issued with each finder's warrants being exercisable into a common share at a price of $0.085 per common share for a period of one year from the date of issuance of the finder's warrants.

Proceeds of the private placement will be used to consider strategic acquisitions and for general operating purposes.

The private placement is subject to regulatory approval including final approval of the TSX Venture Exchange. The securities issued pursuant to the private placement are subject to a four month hold (until March 1, 2010).

About Radar Acquisitions Corp.
Radar is a natural resource development company focused on growth through the acquisition, exploration and development of coal resources and resource-related technologies. Radar has currently two major projects under development: the Buick Coal Project which holds a significant coal deposit in Colorado, USA, and the RPS Fuels joint venture which develops engineered solid fuel products. Other coal and related opportunities continue to be evaluated on an ongoing basis. For more information about Radar, go to www.radar.ab.ca.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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

  • Radar Acquisitions Corp.
    Corporate Head Office
    Timothy J. Bergen, President
    (403) 262-3797 or Toll Free: 1-877-262-5888