Redex Inc.

Redex Inc.

November 16, 2007 09:30 ET

Redex Inc. Announces CAN$ 2,000,000 Private Placement

MONTREAL, QUEBEC--(Marketwire - Nov. 16, 2007) - Michel Piette, President and C.E.O. of Redex Inc. (TSX VENTURE:RDX)(FRANKFURT:W1F), is very pleased to announce that the Company has taken significant steps in order to conclude a non-brokered private placement with investors. Said private placement is expected to raise a maximum of CAN$2,000,000 by the issuance of 5,714,285 common shares at a subscription price of $0.35 per share, subject to the approval of the TSX Venture Exchange.

"This equity will prove to be an important factor in the realization of our goal to acquire additional rental properties (to be converted into 'divided' condominiums) as these proceeds will be used to make cash deposits on those properties as well as to finance the inherent soft costs and renovations in relation to the buildings acquired." - says Redex's President & C.E.O.

The closing date is expected before the end of the year. Finder's fees in cash and/or shares, as allowed by the policies of the TSX Venture Exchange, will be paid pertaining to this private placement. Redex has 21,140,812 common shares issued and outstanding prior to the shares that will be issued as a result of this private placement. No insider is expected to participate in this private placement.


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About Redex Inc.

In recent years, Redex had become a leader in real estate recovery and restructuring. Turning its attention to the future, Redex is now committed to becoming the leader in the art of converting residential rental housing into co-ownerships.

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

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