Royal Laser Corp.

Royal Laser Corp.
Triple M Metal LP

June 15, 2010 08:20 ET

Triple M Metal LP-Royal Laser Corp. Announces Successful Tender Offer for Royal Laser Corp. and Intent to Pursue Compulsory Acquisition

TORONTO, ONTARIO--(Marketwire - June 15, 2010) -


Triple M Metal LP and its affiliate M & A Acquisition Corp. (collectively, the "Offeror") together with Royal Laser Corp. ("Royal Laser") (TSX:RLC) jointly announced that as of 5:00 p.m. (Toronto time) on June 14, 2010 a total of 83,703,813 common shares of Royal Laser had been validly deposited pursuant to the Offeror's previously announced offer to acquire all of the issued and outstanding common shares of Royal Laser (the "Common Shares") at a price of C$0.47 per share (the "Offer"). The Offeror has taken up and paid for all of the Common Shares validly deposited pursuant to the Offer, which represent approximately 90.1% of the issued and outstanding Common Shares of Royal Laser subject to the Offer. All of the terms and conditions of the Offer have been satisfied or waived.

Given that the Offer has been accepted by holders of more than 90 per cent of Common Shares subject to the Offer, the Offeror has exercised its right to acquire the remaining Common Shares pursuant to the compulsory acquisition provisions of the Business Corporations Act (Alberta), as described in the Offer. The Offeror anticipates that the compulsory acquisition of the remaining Common Shares will be completed on or about June 15, 2010, the date the Offeror will pay for such shares. The Offeror intends to cause Royal Laser to de-list the Common Shares from the TSX and to apply to relevant securities regulatory authorities for it to cease to be a reporting issuer.

The Offeror also announced that, in connection with the take up and payment for Common Shares by the Offeror under the Offer, William Iannaci and Alex Shnaider have resigned from the board of directors of Royal Laser. Joining Herb Dhaliwal, H. Beric Sykes, Irving Teper and Vic Alboini as new directors will be Michele Giampaolo, Joe Caruso and Niral Merchant.

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 29, 2009 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.

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