RW Packaging Ltd.

RW Packaging Ltd.

December 05, 2007 10:37 ET

RW Packaging to Offer to Repurchase up to 1,796,846 Common Shares Through a Substantial Issuer Bid

WINNIPEG, MANITOBA--(Marketwire - Dec. 5, 2007) - RW Packaging Limited ("RWP")(TSX VENTURE:RWP) announced today that it intends to offer to repurchase for cancellation up to 1,796,846 of its common shares ("Shares") at a price of $0.65 per share, subject to certain conditions, through a substantial issuer bid (the "Issuer Bid").

The Issuer Bid comprises a part of RWP's "going private plan" which will involve an application to delist the Shares from the TSX Venture Exchange (the "TSXV") and making application to cease to be a reporting issuer under applicable securities laws. The Issuer Bid will provide shareholders of RWP with an opportunity to sell their Shares prior to the Shares being delisted from the TSXV. Certain major shareholders ("Non-Tendering Shareholders") of RWP, being Mr. Henry De Ruiter, Ms. Deanne Downey and Mr. Vincent Pileggi, holding an aggregate of 4,790,834 Shares, have agreed not to tender to the Issuer Bid and to support the applications to the TSXV and securities regulators such that they will remain shareholders of RWP following the completion of the Issuer Bid and the delisting of the Shares from the TSXV.

The Issuer Bid is subject to the approval of the TSXV. A circular containing full details of the Issuer Bid and the procedures for tendering Shares is expected to be filed with the appropriate Canadian securities regulatory authorities and mailed to shareholders by mid-December, 2007.

RW is GMP licensed and ISO 9001 registered. The Company blends and packages liquid and powder private brand consumer products for major retailers and national brand marketers across North America.

Additional information relating to the Company is available online at or the Company's website at

2007-12-04 Close $0.40

Shares Issued 6,587,680

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

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