RAP Acquisition Corp. to amalgamate with Ferrum Americas Mining Inc.

TORONTO, Nov. 1, 2011 /CNW/ - RAP Acquisition Corp. ("RAP" NEX: RAP.H) has entered into an amalgamation agreement with Ferrum Americas Mining Inc. ("Ferrum Americas") under which RAP and Ferrum shall amalgamate and continue as one corporation under the Canada Business Corporations Act (the "Proposed Transaction").

Prior to the Proposed Transaction taking place, all issued and outstanding RAP common shares will be consolidated on a 5:1 basis (the "Consolidation").

The special meeting of the shareholders of RAP to be held to approve the Consolidation and the Proposed Transaction, among other matters, is scheduled to take place at 10:00 am on November 29, 2011 at 333 Bay Street, Suite 2400, Bay Adelaide Centre, Toronto, Ontario M5H 2T6.

Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange (the "Exchange") acceptance.  There can be no assurance that the Proposed Transaction will be completed as proposed or at all.  Investors are cautioned that, except as disclosed in the Information Circular of RAP filed on SEDAR in connection with the Proposed Transaction and other matters, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of RAP should be considered highly speculative.

The Exchange has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release.

Haywood Securities Inc., subject to completion of satisfactory due diligence, has agreed to act as sponsor to Ferrum Americas in connection with the Proposed Transaction. An agreement to sponsor should not be construed as any assurance with respect to the merits of the Proposed Transaction or the likelihood of completion.

Notice on forward-looking statements:

This release includes forward-looking statements regarding RAP, Ferrum Americas and their respective businesses.  Such statements are based on the current expectations of the management of each entity. The forward-looking events and circumstances discussed in this release, including completion of the Proposed Transaction, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the mining industry, economic factors and the equity markets generally.  No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and RAP and Ferrum Americas undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


SOURCE RAP Acquisition Corp.

For further information:

Ronald Schmeichel, Director of RAP Acquisition Corp. at 416-972-6574

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RAP Acquisition Corp.

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