Radiant Conditionally Settles Debt for Shares
07 February 2009 - 9:57AM
Marketwired
Radiant Energy Corporation, (TSX VENTURE: RDT)("Radiant" or the
"Company") announced that it has agreed with Gregory O'Hara, a
director of Radiant who beneficially owns or controls more than 10%
of the issued and outstanding common shares of the Company, to
settle a Cdn$300,000 loan from a company he controls by issuing
6,000,000 common shares of the Company, based on a price of
Cdn$0.05 per share. The completion of this settlement is
conditional on acceptance by the TSX Venture Exchange. It is
anticipated that the transaction will close on or about February
11, 2009.
About Radiant Energy Corporation
Radiant is the developer and marketer of Radiant Deicing
Systems. The Company's product is the only non-glycol based
alternative approved by the US Federal Aviation Administration for
the pre-flight ground deicing of aircraft. Aircraft deicing with
Radiant's technology offers savings to airports and airlines over
the use of conventional glycol-based deicing systems, reducing
aircraft treatment costs and significantly reducing the negative
impact of glycol on the environment.
This press release may contain forward-looking statements,
including statements regarding the business and anticipated
financial performance of Radiant Energy Corporation, which involve
risks and uncertainties. These risks and uncertainties may cause
Radiant's actual results to differ materially from those
contemplated by the forward- looking statements. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press
release.
Contacts: Radiant Energy Corporation Larrie Shepherd President
and Chief Executive Officer (416) 922-8778 Website:
www.radiantenergycorp.com
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