Radar Acquisitions Corp.

Radar Acquisitions Corp.

September 21, 2005 20:12 ET

Radar Welcomes New Advisor to the Board

CALGARY, ALBERTA--(CCNMatthews - Sept. 21, 2005) - Tim Bergen, Chief Financial Officer of Radar Acquisitions Corp. ("Radar") (TSX VENTURE:RAC) is pleased to announce the appointment of Mr. Rohn Crabtree as an Advisor to the Board of Directors of Radar.

A recognized leader in the international energy and finance industries, Mr. Crabtree has a proven track record heading the development and implementation of innovative capital solutions that have facilitated aggressive corporate growth programs and saved millions in financing costs. As the former President and CEO of the Calpine Power Income Fund and senior executive officer of Calpine Corporation, Mr. Crabtree has significant experience in the management and operations of publicly held companies. He has successfully raised over $6 billion in Debt and Equity for the development and construction of power generation projects and led the ABB Energy Ventures financing effort for a 660 MW mine mouth coal project in Australia.

Mr. Crabtree will also be performing Consulting duties for the Company, including:

1. Review with management of the business plan of the Company; and

2. Review of the 500 MW Buick Coal Powered Project development ("Buick Project"), including all current plans, draft contracts, technical reports, financial models, and all bidding materials submitted to Colorado Public Service Co. ("CPSCO") in their most recent request for proposal; and

3. Review all material partnership and project agreements related to the Buick Project.

Radar is pleased to welcome Mr. Crabtree, and looks forward to the significant knowledge and experience he is certain to bring to the Company as an Advisor.

Radar's lead project is its Buick Power Project, on October 20, 2004; Radar signed a three-way Memorandum of Understanding (MOU) with Black Hills Generation and Kiewit Mining Group Inc in order to further the development of the Buick Power Project. The terms of the MOU are that Black Hills or its Affiliate shall provide Plant O&M Services, Kiewit or its Affiliate shall provide Mine O&M Services and Radar or its Affiliate shall provide the Lignite Resource for the Project's Lignite Mine. The Buick Power Project is located 90 miles south east of Denver, Colorado, and encompasses over 22,500 acres of leases held by Radar. These leases include 15,360 acres of land leased from RME Land Corp., a subsidiary of Anadarko Petroleum Corporation (NYSE: APC). A measured resource of 216 million tons plus an indicated resource of 45 million tons for a measured plus indicated resource of over 260 million tons of coal has been reported within the leases (see the engineering report filed on www.sedar.com August 8, 2002 By Garry Smith, a qualified person). Radar is pleased to report that progress is being made on the Buick Power Project as scheduled.

Radar will continue to update shareholders on the progress of future corporate news, financings, and project developments. Management welcomes the opportunity to present detailed project information to shareholders or other interested parties.

Foreign Purchase Information:
CUSIP # 7499231
IBM Security Code - 565656

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 British Columbia Securities Commission and the US Securities and Exchange 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.
    Peter Leger
    (403) 262-3797 or Toll Free 1 -877-262-5888
    (403) 233-2344 (FAX)
    Email: pleger@radar.ab.ca
    Radar Acquisitions Corp.
    Gordon Beach
    Broker/Investor Communications
    (403) 262-3797 or Toll Free 1 -877-262-5888
    (403) 233-2344 (FAX)
    Email: gbeach@radar.ab.ca