Royal Laser Corp.
TSX : RLC

Royal Laser Corp.

September 17, 2007 09:56 ET

Royal Laser Corp. Announces Letter of Intent to Acquire Apogee Slitting Inc.

TORONTO, ONTARIO--(Marketwire - Sept. 17, 2007) - Royal Laser Corp. ("Royal Laser" or the "Corporation") (TSX:RLC) announces that they have signed a letter of intent to acquire 100% of the equity in Apogee Slitting Inc. ("Apogee"), a Mississauga, Ontario based steel service centre, (the "Acquisition") for a minimum purchase consideration of 6,000,000 common shares in the Corporation, at a deemed price of $0.45, and cash consideration of $6,000,000. Additional purchase consideration of $5,000,000 is payable in the event that Apogee meets certain additional revenue and profit thresholds - payable in cash or common shares of the Corporation, at the vendor's option. Apogee will be merged into the Venture Steel Inc. ("Venture Steel") subsidiary of Royal Laser.

Beric Sykes, President of Venture Steel, comments: "Apogee provides expanded market coverage for Venture Steel into the tubular, heavy gauge automotive, building products and general manufacturing markets. In addition, Apogee compliments our current operations by adding increased slitting capabilities (heavier gauges up to 0.5 inches) and increased storage capacity.

The share acquisition is conditional on Royal Laser's satisfaction with its due diligence investigation of Apogee, negotiation of a definitive agreement between Royal Laser and the shareholders of Apogee, and receipt of all necessary regulatory and government approvals.

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 www.sedar.com.

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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 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.

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