MONTREAL, Aug. 14 /CNW Telbec/ - Ranaz Corporation ("Ranaz") (TSXV: RNZ),
a company specialized in the manufacturing and marketing of protein and
dietary supplements, announces that it intends to raise $675,000 through the
non-brokered private placement of convertible debentures and up to 4,500,000
warrants. The debentures will have a five year term, bear interest at an
annual rate of 5% and be convertible into common shares of Ranaz at a price of
$0.075 per share for 12 months after their issuance and $0.10 per share for
the four subsequent years. The exercise price of the warrants, which will
expire 5 years after their issuance, will be equal to the conversion price of
An insider of Ranaz, Fiducie Vanquish, will subscribe for more than 25%
of the private placement.
Closing of this private placement will be subject to the approval of the
TSX Venture Exchange.
About Ranaz Corporation
Ranaz is a corporation specializing in the manufacture and sale of
protein and dietary supplements. Its mission is to create, develop and sell
nutritional, protein and dietary supplements under its own corporate brands,
such as "Protidiet" and "Protilife", as well as under private brands.
Certain statements contained in this news release, other than statements
of fact that are independently verifiable at the date hereof, may constitute
forward-looking statements. Such statements, based as they are on the current
expectations of management, inherently involve numerous risks and
uncertainties, known and unknown, many of which are beyond Ranaz's control.
Such risks include but are not limited to: the impact of general economic
conditions, changes in the regulatory environment in the jurisdictions in
which Ranaz does business, stock markets volatility, fluctuations in costs,
and changes to the competitive environment due to consolidation, as well as
other risks disclosed in public filings of Ranaz. Consequently, actual future
results may differ materially from the anticipated results expressed in the
forward-looking statements. The reader should not place undue reliance, if
any, on the forward-looking statements included in this news release. These
statements speak only as of the date made and Ranaz is under no obligation and
disavows any intention to update or revise such statements as a result of any
event, circumstances 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.
For further information:
For further information: Investor Relations: Evolution Group Inc.:
Jean-Francois Bouffard, (514) 448-4887, Toll free: (866) 703-4887,
firstname.lastname@example.org, www.evolutiongrp.com; Jean Bourassa-Marineau,
President and Chief Executive Officer, (514) 666-8010