Royal Laser Corp.

Royal Laser Corp.

November 12, 2007 14:14 ET

Royal Laser Corp. Announces Completion of Acquisition of Apogee Slitting Inc.

TORONTO, ONTARIO--(Marketwire - Nov. 12, 2007) - Royal Laser Corp. ("Royal Laser" or the "Corporation") (TSX:RLC) announces that it has completed the previously disclosed acquisition of all of the issued and outstanding shares of Apogee Slitting Inc. ("Apogee"), a Mississauga, Ontario based steel service centre, effective November 1, 2007, (the "Acquisition") for initial purchase consideration of 6,000,000 common shares in the capital of the Corporation (the "Share Consideration"), and cash consideration of $6,000,000. The Share Consideration is subject to an escrow agreement providing for its release over a period of three years and is subject to a statutory four month hold period expiring on March 1, 2008. The Share Consideration is also subject to a minimum working capital adjustment.

Further consideration for the Acquisition may be paid as follows. On November 1, 2010, should the value of the Share Consideration be less than $1.00 per share, Royal Laser will top up the value to $1.00 per share in the form of either cash or additional common shares in the capital of the Corporation, at Royal Laser's option. Additional purchase consideration of $5,000,000 is payable in the event that Apogee meets certain additional revenue and profit thresholds. This additional purchase consideration is payable in cash or common shares of the Corporation, at Royal Laser's option.

Apogee will be integrated into the operations of Venture Steel Inc. ("Venture Steel"), a subsidiary of Royal Laser.

Beric Sykes, President of Venture Steel, comments: "Apogee will immediately bring additional sales in tubular, heavy gauge automotive, building products and general manufacturing markets. Apogee currently processes, on an annualized run rate basis, 40,000 tons - we look forward to consolidating these sales into our current order book. Apogee will no longer run as a separate company, and will benefit immediately from the Venture Steel infrastructure. Going forward, Apogee compliments our current operations by adding increased slitting capabilities (heavier gauges up to 0.5 inches) and increased storage capacity."

About Apogee Slitting Inc.

Apogee is a custom flat rolled steel processor specializing in hot rolled, cold rolled and galvanized steel for the tubular, building products, automotive and general manufacturing market sectors. Apogee is located in Mississauga, Ontario and has capacity to process in excess of 100,000 tons of steel.

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

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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, 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.

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