Radiant Energy Corporation
TSX VENTURE : RDT

Radiant Energy Corporation

August 29, 2007 13:12 ET

Radiant Completes Private Placement

PORT COLBORNE, ONTARIO--(Marketwire - Aug. 29, 2007) -

NOT FOR RELEASE IN THE UNITED STATES

Radiant Energy Corporation ("Radiant" or the "Company") (TSX VENTURE EXCHANGE:RDT) developer and marketer of InfraTek®, the environmentally friendly, patented, infrared pre-flight aircraft deicing system, announced completion of a non-brokered private placement of 1,260 Secured Convertible Debentures with a detachable warrant for gross proceeds equal to $1,260,000.

Private Placement of Secured Convertible Debentures with Detachable Warrant

The Company received final acceptance from the TSX Venture Exchange for a private placement of 1,260 Series F Secured Convertible Debentures. The Debentures are in addition to 700 Series F Debentures issued on June 3, 2007. The Debentures have a face value of CAD $1,000 each. Each Debenture is convertible into common shares of Radiant Energy Corporation based on a rate of CAD $0.185 per common share in the first two years, CAD $0.205 in the third year, CAD $0.23 in the fourth year; and CAD $0.26 in the fifth year. The annual interest rate is fixed at 8%.

The Debentures share in a first security position, with the existing Secured Loans and the Series E Debentures, on all assets of the Company and its subsidiaries exclusive of the deicing facility in Oslo, Norway. The Debentures are redeemable on demand by the debenture holder after December 31, 2007 and prior to the maturity date of August 31, 2011. The Debentures are repayable by the Corporation if the Corporation raises CAD $5.0 million in new common share equity and the weighted average share price is greater than CAD $0.38 for 20 consecutive trading days. Each debenture has a detachable warrant to purchase 825 common shares at CAD $0.185 per common share for up to two years after the date of issuance. A finder's fee on the issuance 375 Debentures was paid to National Bank Financial in the form of 405,000 warrants to purchase 1 common share each of the Company. The warrants are based on the same terms as the detachable warrants. The Debentures and the warrants will not be registered for trading and if converted to common shares, the common shares will have a four month hold period from the time the Debentures and warrants are issued.

Radiant trades on the TSX Venture Exchange (symbol RDT). The InfraTek Deicing System is the only FAA-approved for use, non-glycol based alternative to the conventional pre-flight ground deicing process. InfraTek offers savings to airports and airlines by reducing treatment costs and by significantly reducing the negative environmental impact of glycol.

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