MONTREAL, Feb. 24 /CNW Telbec/ - This press release is issued by Wavon
John Soileau Revocable Trust (the "Trust") as required under Regulation 62-103
Respecting the Early Warning System and Related Take-Over Bid and Insider
Reporting Issues ("Regulation 62-103"). The Trust owned 4,500,000 common
shares of Ranaz Corporation ("Ranaz"), representing approximately 9.98% of the
outstanding common shares of Ranaz (the "Common Shares"). Its address is 3339
Highway 17W, Green Cove Springs, FL 32043, United States.
The Trust announces that, on February 20, 2009, it acquired direct
ownership of 896,449 (1.88%) additional Common Shares and 2,420,129 warrants
of Ranaz (the "Warrants"), and now holds approximately 11.86% (16.18% assuming
the exercise of the Warrants) of the outstanding Common Shares. John Soileau
and Nina Soileau, the Trust's trustees, are deemed joint actors of the Trust
under Regulation 62-103. John Soileau controls, through SSAD, LLC, 767,769
Common Shares of Ranaz and 383,884 share purchase warrants (which can be
exercised at a price of CDN$1.65 until October 1, 2009), representing
approximately 1.69% of the outstanding Common Shares (2.38% assuming the
exercise of the share purchase warrants). Nina Soileau does not hold or
control, directly or indirectly, Common Shares.
The Common Shares and Warrants were comprised in units issued to the
Trust on a private placement basis, at a price of CDN$0.135 per unit. Each
unit was comprised of one Common Share and one-half of one Warrant. 4,023,809
of the Common Shares comprised in the units were issued to the Trust on
January 30, 2009. Each Warrant entitles its holder to purchase one Common
Share of Ranaz at a price of CDN$0.135 per share up to January 30, 2011.
As a result of this transaction, the Trust owns, together with of Mr.
Soileau, 6,164,218 Common Shares and 2,804,013 Warrants (383,884 at an
exercise price of CDN$1.65 and 2,420,129 at an exercise price of CDN$0.135),
representing approximately 13.55% of the outstanding Common Shares (18.57%
assuming the exercise of all warrants held by the Trust and Mr. Soileau).
The Trust and Mr. Soileau hold their shares for investment purposes only
and do not plan to purchase additional securities of Ranaz in the near future.
A copy of the report under Regulation 62-103 to be filed today may be
obtained by contacting Mr. Martin Vidal, Executive Vice-President and Chief
Financial Officer at (450) 491-7106 ext. 213.
For further information:
For further information: Martin Vidal, Executive Vice President and
Chief Financial Officer, Ranaz Corporation, (450) 491-7106, ext. 213,
email@example.com; François Kalos, Solak Communications, (450)