"Effective September 16, 2009" TSX.V: LEO
VANCOUVER, Sept. 15 /CNW/ - Raytec Metals Corp. (the "Company" or "Raytec") (TSX.V - RAY) announces that it has received approval from the TSX Venture Exchange to change the Company's name to Lion Energy Corp. The Company's stock symbol has been changed to "LEO" and the Company's CUSIP number has been changed to 536201106. The name change and symbol change will take effect September 16, 2009.
Lion Energy Corp. ("Lion Energy") president, Brian Thurston, stated: "This name change reflects the Company's new focus as an oil & gas exploration Company in Central & Eastern Africa. Management is very pleased with the transition of the Company over the past four months and looks forward to building Lion Energy into a top-tier player in this rapidly developing region. Northeast Africa is seeing a major exploration effort as several billion barrel discoveries have been recently announced."
About the Company:
The Company is a well-financed, Canadian exploration company with a vision to develop a significant presence in the developing oil and gas industry in East and Central Africa. Recently the Company signed an agreement with Africa Oil Corp. that grants the Company the right to earn an interest in five petroleum blocks located in the Republic of Kenya and in Puntland, Somalia. The Company also holds 14.76% interest in Encanto Potash Corp., a junior potash exploration company and a 20% interest in Sulphur Solutions Inc., an emerging fertilizer company developing state-of-the-art patented technology for the production of micronized sulphur fertilizer.
To find out more about the Company, please visit our website at www.lionenergycorp.com.
On behalf of the Board,
RAYTEC METALS CORP.
"Brian Thurston", President and CEO
NEITHER THE 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 NEWS RELEASE
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploration activities and events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements in this news release include statements regarding the Company's name change and intentions. Although, the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions, including among others, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals for the transactions described herein, the ability of the Company and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for the Company's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected on the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE RAYTEC METALS CORP.
For further information: For further information: about the Company, please visit our website at www.lionenergycorp.com