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Raymor Industries Inc. (TSX VENTURE:RAR), a leading developer and producer of single-walled carbon nanotubes, nanomaterials and advanced materials, is pleased to announce that the company has completed a private placement for 2,000,000 units (the "Units"), representing proceeds of $2,400,000, subject to the approval of the regulatory authorities having jurisdiction over the securities of the Company.
Each Unit consists of one common share at a price of $1.195 per common share, one quarter (1/4) of one Series "A" share purchase warrant (a "Series A Warrant") at a price of $0.0025 per Series "A" Warrant and one quarter (1/4) of one Series "B" share purchase warrant (a "Series B Warrant") at a price of $0.0025 per Series "B" Warrant. Each whole Series "A" Warrant shall entitle its holder thereof to purchase one (1) additional common share of the share capital of the Corporation at a price of $1.55 for a period of twelve (12) months from the closing date. Each whole Series "B" Warrant shall entitle its holder thereof to purchase one (1) additional common share of the share capital of the Corporation at a price of $1.75 for the period which is between the twelfth (12th) and eighteenth (18th) month following the closing date.
The securities issued under the private placement are subject to a four-month hold period, expiring on September 13, 2007.
The proceeds of the private placement will be used to augment single-walled carbon nanotubes (C-SWNT) production capacity, for the acquisition of additional equipment in the metallic powders and coatings division and for working capital.
Commenting on the news above, Mr. Stephane Robert, President and CEO of Raymor Industries said the following:
"The closing of this financing will allow Raymor to be more aggressive in growing each division of our company. This institution's participation will continue to increase Raymor's visibility in the US and Canadian financial communities."
About Raymor Industries Inc.
RAYMOR INDUSTRIES INC. (TSX VENTURE:RAR) has as its mission to become a leading developer of high technology for the production of single-walled carbon nanotubes, nanomaterials and other advanced materials for high value-added applications. Raymor Industries operates three wholly-owned, industrial subsidiaries, Raymor Nanotech, Raymor Aerospace and AP&C Advanced Powders and Coatings, specializing in nanotechnology and advanced materials, and comprising four divisions: (1) nanotechnology products, including nano-powders, nano-coatings, and single-walled carbon nanotubes (C-SWNT) for "the applications of tomorrow"; (2) thermal spray coatings, which largely targets military, aeronautical, aerospace, specialized industrial, and mining applications; (3) spherical metallic powders, primarily used for biomedical and aerospace applications; and (4) net-shape forming, a component manufacturing technique used for ballistic protection and other aerospace and military applications. Raymor holds the exclusive rights to more than 20 patents throughout the world, with other patents pending.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephane Robert, President.
FOR MORE INFORMATION ON RAYMOR INDUSTRIES, A NANOTECH 100 COMPANY AND LIST OF NANOTECH 100 COMPILED BY IANANO, PLEASE VISIT: http://www.raymor.com
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Raymor Industries Inc.
450-434-1004 ext.: 444
Toll Free: 888-734-1004
Raymor Industries Inc.
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