/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, Sept. 26 /CNW Telbec/ - Ranaz Corporation (TSXV: RNZ), ("Ranaz"
or the "Corporation") announces the completion of a public offering of
2,944,100 units at a price of $1.30 per unit. The Corporation also expects to
announce the closing of a private placement of 927,464 units at the same price
and on the same terms. The closing of the private placement is expected to
take place within the next few days. The combined gross proceeds of the public
offering and the private placement will slightly exceed $5 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 offering.
Loewen, Ondaatje, McCutcheon Limited and Blackmont Capital Inc.
respectively acted as lead agent and agent in connection with the public
offering. The TSX Venture Exchange has conditionally approved the private
Ranaz expects to use the proceeds of the offering for corporate
development and general working capital purposes.
The securities of the public offering have not been and will not be
registered under the U.S. Securities Act of 1933 or any State securities
legislation of the United States. They may not be offered, sold or delivered
in the United States except as part of transactions that are exempt from the
registration requirements of the U.S. Securities Act. The term "United States"
has the meaning ascribed to it in Regulation S promulgated under the U.S.
Securities Act. This release does not constitute an offer for sale of
securities in the United States.
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, firstname.lastname@example.org; Jean
Walter, Vice President, MaisonBrison, (514) 731-0000, Ext. 223,