/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
MONTREAL, Jan. 30 /CNW Telbec/ - Ranaz Corporation ("Ranaz") (TSX-V: RNZ)
announces that it has partially completed the private placement announced on
January 12, 2009. Under this arm's length transaction, the Company today
issued 4,023,809 shares for proceeds of approximately CA $543,000, bringing
the holdings of the subscriber, who was already a shareholder of Ranaz, to
9.98% of the outstanding shares of Ranaz.
Following this first closing, Ranaz's Board of Directors appointed John
Soileau as a Director of the Company. Mr. Soileau, President and Chief
Executive Officer of PBC Supply, is an outstanding businessman and a visionary
with immense experience in the area of nutrition and weight loss. This
appointment is subject to approval from the TSX Venture Exchange.
"I am pleased to welcome John to Ranaz on the Board's behalf," stated
Jean Bourassa-Marineau, President and Founder of Ranaz. "His vast expertise
and market knowledge will bring invaluable guidance and insight to our market
expansion in the United States and abroad."
"I am proud and enthusiastic to be joining the Board of Ranaz, which I
consider to be extremely well positioned to expand rapidly in a fast-growing
market," added Mr. Soileau.
The Company will complete the private placement for proceeds of CA
$121,000 once it has obtained the approval of the TSX Venture Exchange. The
second closing and the issuance of 896,449 additional shares and 2,460,129
share purchase warrants of the Company, each warrant entitling its holder to
purchase one share for $0.135 over a 24-month period, will be the subject of a
press release. Following this closing, Ranaz will have issued a total of
4,920,258 units at a price of $0.135 per unit, each consisting of one common
share and half a warrant.
The proceeds of the private placement will be used for general corporate
The common shares issued under the private placement are subject to a
four-month resale restriction ending on May 31, 2009, in accordance with the
applicable securities legislation and the policies of the TSX Venture
This press release does not constitute an offer to sell or a solicitation
of an offer to purchase securities, nor an offer, solicitation or sale in any
jurisdiction where such offer may be unlawful.
About Ranaz Corporation
Ranaz is a company specializing in the manufacture and marketing of
protein and dietary supplements. Its mission is to design, develop and market
nutritional, protein and dietary supplements under its own corporate brands
and concepts, such as Protidiet and ProtiLife, as well as under private
labels. For more information about the Company, please visit our website at
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 and
Chief Financial Officer, Ranaz Corporation, (450) 491-7106, Ext. 213,
firstname.lastname@example.org; François Kalos, President, SOLAK
Communications, (450) 993-0828, email@example.com