/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES/
MONTREAL, Oct. 1 /CNW Telbec/ - Ranaz Corporation (TSXV: RNZ), ("Ranaz"
or the "Corporation") announces that it completed the previously announced
non-brokered private placement of 927,464 units at the same price ($ 1.30 per
unit) and on the same terms as the public offering completed on September 26,
2007. The private placement was completed with five purchasers residing in the
United States for gross proceeds of approximately $1.2 million.
Each unit consists of one common share and one-half of a warrant of the
Corporation. Each whole warrant entitles its holder, upon payment of an
exercise price of $1.65, to acquire one common share within the 24-month
period following the closing of the private placement.
The securities issued in this private placement are subject to a four
month hold period and may not be traded before February 2, 2008. No commission
or remuneration was paid in connection with this private placement.
Ranaz expects to use the proceeds of the private placement for corporate
development and general working capital purposes.
About Ranaz Corporation
Ranaz is a corporation specializing in the manufacture and marketing of
protein and dietary supplements in relation to weight loss and obesity
treatments. Its mission is to design, develop and market nutritional, protein
and dietary supplements under its own corporate brands, such as Protidiet and
ProtiLife, as well as under private labels. The common shares of Ranaz have
traded under the symbol RNZ on the TSX Venture Exchange since December 29,
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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Martin Vidal, Executive Vice President, Ranaz
Corporation, (450) 491-7106, Ext. 213, email@example.com; Jean
Walter, Vice President, MaisonBrison, (514) 731-0000, Ext. 223,