January 29, 2010 18:10 ET

Raymor Announces Approval of a Private Investment Offer of $6,500,000 and Reorganization by the Court

MONTREAL, QUEBEC--(Marketwire - Jan. 29, 2010) - Raymor Industries Inc. ("Raymor" or the "Corporation") (TSX VENTURE: RAR) is pleased to announce that the Superior Court of Quebec has approved on January 27, 2010 an offer contained in a letter dated December 4, 2009, providing the details of a proposed private investment (the "Transaction") by Georges Durst, Rolland Veilleux and another investor who joined the buying group (collectively, the "Buyer"), to invest $6,500,000 in Raymor and related restructuring transactions, including the cancellation of the issued and outstanding common shares of Raymor for no consideration.

The Court also approved on January 27, 2010 an amended proposal to the Corporation's creditors, the initial proposal dated April 15, 2009, approved by the creditors at their meeting on April 30, 2009 and by the Superior Court of Quebec on May 1, 2009.

Certain statements contained in this release contain forward-looking statements. In this release, the use of future or conditional terms allows the use of forward-looking statements. Such statements reflect Raymor's current views with respect to future events or conditions, including the results of operations, financial situation, expected actions, plans or future strategies. Certain material factors and assumptions were used in formulating Raymor's conclusions and such forward-looking statements. By their nature, those statements reflect management's current views, beliefs and assumptions and are subject to certain risks and uncertainties, known and unknown, including, without limitation, the uncertainty as to the outcome of regulatory approvals required to complete the Transaction and the amended proposal. Many factors could cause Raymor's actual results, performance or achievements to be materially different from those that may be expressed or implied by these forward-looking statements. Should any of these risks or uncertainties materialize, or should the assumptions underlying the projections or forward-looking statements prove incorrect, our actual results may differ materially from those anticipated, believed, estimated or expected as described in this release. Unless otherwise required by law, the Corporation disclaims any intention or obligation to update these forward-looking statements, whether as a result of new information, plans, events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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