Radiant Energy Corporation

Radiant Energy Corporation

June 06, 2007 13:39 ET

Radiant Provides Update on Private Placements

PORT COLBORNE, ONTARIO--(Marketwire - June 6, 2007) -


Radiant Energy Corporation ("Radiant" or the "Company")(TSX VENTURE:RDT) developer and marketer of InfraTek®, the environmentally friendly, patented, infrared pre-flight aircraft deicing system, announced acceptance by the TSX Venture Exchange (the "Exchange") of a non-brokered private placement for 3,178,500 common shares and conditional acceptance of a proposed private placement of Secured Convertible Debentures.

Completion of Private Placement of Common Shares

The Company received final acceptance from the TSX Venture Exchange for the issuance of 3,178,500 common shares issued at C$0.20 per share for total gross proceeds equal to C$637,500. Four insiders of the Corporation subscribed for a total 2,850,000 common shares for gross proceeds of $570,000. The common shares will have a four-month hold period from May 31, 2007.

Private Placement of Series F Secured Convertible Debentures

The Company further announced conditional acceptance for a proposed private placement of 1,500 Series F Secured Convertible Debentures (the "Debentures") with a face value of US$1,000 each to be issued by the Company's wholly-owned subsidiary, Radiant Aviation Services, Inc. Each Debenture is convertible into 5,500 common shares of Radiant Energy Corporation in the first two years (CAD $0.20), 4,400 common shares in the third year (CAD $0.25), 3,667 common shares in the fourth year (CAD $0.30); and 3,142 common shares in the fifth year (CAD $0.35). The annual interest rate is fixed at 8%. The Debentures share in a first security position, with the existing Secured Loans and Series E Debentures in the combined amount of US$1,750,000, 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 October 31, 2007 and prior to the maturity date of October 31, 2011. The Debentures are repayable by the Corporation if the Corporation at any time after issuance. To date three insiders have subscribed for 661 debentures for gross proceeds of US$661,000. The Debentures 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 are issued.

Radiant has 103,403,717 shares outstanding after the completion of the issuance of the common shares and 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. The InfraTek Deicing System is in use at JFK International Airport, New York, the Newark Liberty International Airport, New Jersey, the Rhinelander-Oneida County Airport, Rhinelander, Wisconsin, and about to commence full operations at the Oslo Airport in Gardermoen, Norway.

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.

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