CALGARY, Nov. 1 /CNW/ - Raptor Capital Corporation (RCP.H: NEX) - Raptor
Capital Corporation ("Raptor") is pleased to announce that on June 12, 2007,
and June 28, 2007 Raptor made settlement proposals to all of the holders of
convertible debentures and related party debt of the Corporation, and holders
of an aggregate amount of $395,000 (plus interest) accepted the proposal. Debt
holders who accepted the proposal would receive common shares of Raptor at a
conversion price of approximately $0.15 per common share. It is a
pre-condition to the proposed settlement that the common shares of Raptor be
consolidated on a 20:1 basis. Such consolidation and the proposed settlement
will require shareholder and regulatory approval.
In addition, on September 4, 2007, Raptor raised $140,000 through the
issuance of promissory notes. The promissory notes are exchangeable by Raptor
into common shares of Raptor at a rate of 70% of the conversion price as used
in the proposed arrangement with the holders of convertible debentures,
subject to regulatory approval.
Parties interested in obtaining further information or receiving news
releases and corporate documents from Raptor may e-mail such request to
Bill@raptap.com or review the Company's documentation filed on SEDAR at
This news release may contain certain forward-looking statements that
reflect the current views and/or expectations of Raptor Capital Corporation
with respect to its performance, business and future events. Such statements
are subject to a number of risks, uncertainties and assumptions. Actual
results and events may vary.
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: William J. Wylie, Raptor Capital Corporation,
T: (403) 266-5515 ext. 4, E: Bill@raptap.com