Royal Laser Corp.
TSX : RLC

Royal Laser Corp.

September 06, 2007 15:08 ET

Royal Laser Corp. Announces Appointment of Beric Sykes as President of Venture Steel Inc.

TORONTO, ONTARIO--(Marketwire - Sept. 6, 2007) - Royal Laser Corp. ("Royal Laser" or the "Corporation") (TSX:RLC) is pleased to announce that they have entered into an agreement with Beric Sykes, whereby Mr. Sykes will be appointed President of Venture Steel Inc., a subsidiary of Royal Laser, effective September 7, 2007.

Mr. Sykes most recently served as Chief Operating Officer of Namasco Ltd. (Canada), based in Burlington, Ontario, a flat rolled steel service centre. Namasco Ltd. (Canada) is a subsidiary of Klockner & Co. AG of Duisburg, Germany, and along with Namasco Corporation of the United States is one of the largest steel and metal distributors in North America and Europe.

Commenting on Mr. Sykes appointment, Bill Iannaci, CEO of Royal Laser Corp. states: "Beric brings to this position a great deal of experience in the steel service centre industry, and will serve as an effective leader of Venture Steel Inc. Beric has over 20 years of senior management experience in the steel business, including substantial experience at the steel mill level and steel processing levels. Beric adds to our aggressive and growth oriented company and management team."

Subject to regulatory approval, Mr. Sykes will be issued 1,500,000 shares in the Corporation at a deemed value of $0.40 per share at no cost to Mr. Sykes, vesting over a three year period commencing with 25% immediately, and 25% at each anniversary date of his appointment.

The Corporation also announces that it will grant stock options to Mr. Sykes on September 7, 2007, to purchase 300,000 common shares in the Corporation at an exercise price of $0.50 per share. These stock options will vest over a three year period commencing with 33% on the first anniversary date, and will expire on September 7, 2012.

The above appointment is subject to regulatory approval.

About Venture Steel Inc.

Venture Steel Inc., a wholly-owned subsidiary of Royal Laser Corp., is a custom flat rolled steel processor specializing in all types and grades of hot rolled, cold rolled and coated steel. Venture Steel Inc. operates out of combined facilities totalling approximately 170,000 square feet located in the Greater Toronto Area of Ontario.

About Royal Laser Corp.

Royal Laser Corp., through its wholly-owned operating subsidiaries, services steel and manufactures custom wood and metal products targeted at the multi-billion dollar automotive high-end retail in-store development industry, the OEM industrial products and construction industries, in Canada, the United States and overseas. Royal Laser Corp. employs state of the art industrial technology to process steel, fabricate custom and standardized wood and metal products, including robotic wood finishing lines, advanced laser-based computer-integrated manufacturing systems and advanced stamping presses. In addition to contract manufacturing services, Royal Laser provides value-added engineering and design services. The Corporation's common shares trade on the Toronto Stock Exchange under the symbol "RLC" and there are approximately 92.9 million shares outstanding.

For further information on the Corporation, please visit SEDAR at www.sedar.com.

To receive Company news by email, please contact catarina@chfir.com and specify "Royal Laser news" in the subject line.

Forward-Looking Statements

Certain statements contained in this press release include statements which contain words such as "anticipate", "could", "should", "expect", "seek", "may", "intend", "likely", "will", "believe" and similar expressions, statements relating to matters that are not historical facts, and such statements of our beliefs, intentions and expectations about development, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and are based on certain assumptions and analysis made by us derived from our experience and perceptions. All such forward-looking information is based on certain assumptions and analyses made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. The risks, uncertainties, and assumptions are difficult to predict and may affect operations, and other factors, many of which are beyond our control, and are as discussed under the heading "Trends, Risks and Uncertainties" and in the Annual Information Form of Royal Laser dated June 27, 2007 and filed on SEDAR at www.sedar.com, as well as Royal Laser's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. Actual results, performance or achievements could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits will be derived therefrom. Except as required by law, Royal Laser Corp. disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained herein is expressly qualified by this cautionary statement.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information