Radiant Energy Corporation
TSX VENTURE : RDT

Radiant Energy Corporation

January 26, 2010 08:43 ET

Radiant Completes Shares for Debt Transaction

TORONTO, ONTARIO--(Marketwire - Jan. 26, 2010) -

NOT FOR DISTRIBUTION IN THE UNITED STATES.

Radiant Energy Corporation, (TSX VENTURE:RDT) ("Radiant") announced that it has received approval from the TSX Venture Exchange ("TSXV") to complete an issuance of 1,107,756 common shares of Radiant in satisfaction of certain amounts owing pursuant to a settlement agreement reached in respect of an employment-related litigation claim (the "Settlement Agreement"). The Settlement Agreement provides for the payment of $10,650 (CDN$11,000) in cash and the issuance of 1,107,756 common shares of Radiant.

The common shares issued in conjunction with the transaction will be subject to a four-month hold period under applicable securities laws and the policies of the TSXV, such hold period expiring on May 26, 2010.

About Radiant Energy Corporation

Radiant is the developer and marketer of Radiant Deicing Systems. Radiant's product is the only non- glycol based alternative approved by the US Federal Aviation Administration for the pre-flight ground deicing of aircraft. Aircraft deicing with Radiant's technology offers savings to airports and airlines over the use of conventional glycol-based deicing systems, reducing aircraft treatment costs and significantly reducing the negative impact of glycol on the environment.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Radiant Energy Corporation
    David Williams
    President and Chairman
    416.922.8778