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TSX Venture: RAX
CALGARY, Oct. 30 /CNW/ - Radius Resources Corp. ("Radius" or the "Corporation") announced today that it received a demand from the Alberta Treasury Branches ("ATB") dated October 27, 2009 for the immediate repayment of all indebtedness owed to the ATB (the "Indebtedness"). The repayment of the Indebtedness had previously been subject to an extension under a Forbearance Agreement between ATB and Radius dated February 1, 2009 which has since expired. Radius is in discussions with ATB with respect to the repayment of the Indebtedness.
Radius is a junior oil and gas company engaged in the exploration for, and development and production of, crude oil and natural gas focusing in the Peace River Arch region of central Alberta. The Corporation's shares trade on the TSX Venture Exchange under the symbol "RAX".
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 RADIUS RESOURCES CORP.
For further information: For further information: Mr. David R.P. Mears, Chairman & CEO, Radius Resources Corp., Suite 200, 816 - 7th Avenue SW, Calgary, Alberta, T2P 1A1, Telephone: (403) 265-9393, Fax: (403) 265-9224