Radiant Energy Corporation
TSX VENTURE : RDT

Radiant Energy Corporation

March 07, 2008 12:34 ET

Radiant Announces Closing of Second Tranche of Previously Announced Private Placement

TORONTO, ONTARIO--(Marketwire - March 7, 2008) -

NOT FOR DISTRIBUTION IN THE UNITED STATES

Radiant Energy Corporation (TSX VENTURE:RDT)("Radiant" or the "Company") announced a second and final closing (the "Offering") in connection with its previously announced brokered private placement by Brant Securities Limited ("Brant Securities") of 7,475,000 units (the "Units") for gross proceeds of approximately $900,000. In total, the Company raised approximately $3.85 million in gross proceeds through the sale of 32,068,332 Units.

Each Unit consists of one common share and one-half of one common share purchase warrant of the Company. Each whole warrant will entitle the holder to purchase one common share of Radiant for $0.30 until 18 months from the date of closing. If at any time during the life of the warrants the closing price of the common shares of Radiant exceeds $0.40 for any period of 20 consecutive trading days after the closing of the Offering, the Company may advance the expiry date of warrants to a date not less then 30 days after written notice of such advance is sent to the holders of the warrants. In addition to their 8% cash commission, Brant Securities was issued an aggregate of 598,000 agent's options in connection with the Offering, each exercisable for one Unit for a period of 18 months from the closing date at a price of $0.12 per option. The common shares underlying the Units and the common shares underlying the warrants are subject to four-month hold periods from their date of issue.

About Radiant Energy Corporation

Radiant is the developer and marketer of the InfraTek Deicing System, the only non-glycol based alternative to the conventional pre-flight ground deicing process approved for use by the US Federal Aviation Administration. InfraTek offers savings to airports and airlines by reducing treatment costs and by significantly reducing the negative environmental impact of glycol.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

This press release may contain forward-looking statements, including statements regarding the business and anticipated financial performance of Radiant Energy Corporation, which involve risks and uncertainties. These risks and uncertainties may cause Radiant's actual results to differ materially from those contemplated by the forward- looking statements. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • Radiant Energy Corporation
    Larrie Shepherd
    President and Chief Executive Officer
    (416) 769-6789
    Website: www.radiantenergycorp.com