MONTREAL, Aug. 12 /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 5,396,449 common
shares of Ranaz Corporation ("Ranaz"), representing approximately 11.86% 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 August 12, 2009, it exercised 2,460,129
warrants of Ranaz (the "Warrants") giving it direct ownership of 2,460,129
(5.13%) additional Common Shares. The Warrants were exercised at a price of
$0.135, for a total consideration of $332,117.42 paid by the Trust. The Trust
now holds 7,856,578 Common Shares (approximately 16.39% 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 ("SSAD"), 767,769 Common Shares of Ranaz and
383,884 share purchase warrants exercisable at a price of CDN$1.65 until
October 1, 2009 ("SSAD's Warrants"), representing approximately 1.6% of the
outstanding Common Shares (2.38%, assuming the exercise of SSAD's Warrants).
Nina Soileau does not hold or control, directly or indirectly, Common Shares.
As a result of this transaction, the Trust and SSAD together own
8,624,347 Common Shares and 383,884 warrants (at an exercise price of
CDN$1.65), representing approximately 17.99% of the outstanding Common Shares
(18.64% assuming the exercise of SSAD's Warrants).
The Trust and Mr. Soileau hold their shares for investment purposes only
and might eventually purchase additional securities to increase Ranaz's
working capital as appropriate.
A copy of the report under Regulation 62-103 to be filed today may be
obtained by contacting Mr. Jean Bourassa-Marineau, President and Chief
Executive Officer at (514) 666-8010.
For further information:
For further information: Jean Bourassa-Marineau, President and Chief
Executive Officer, Ranaz Corporation, (514) 666-8010