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Raymor Industries Inc. (TSX VENTURE:RAR), a leading developer and producer of single-walled carbon nanotubes, nanomaterials and advanced materials provides its third bi-weekly Default Status Report under National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults, pursuant to which Raymor announced that the filing of its audited financial statements, management's discussion and analysis ("MD&A") and related CEO and CFO certifications for the year ended December 31, 2008 will be delayed beyond the statutory deadline of April 30, 2009 and that its financial statements, MD&A and related CEO and CFO certifications for the first quarter ended March 31, 2009 will not be filed by the statutory deadline of May 30, 2009. Raymor currently expects that its audited financial statements and MD&A for the year ended December 31, 2008 will be completed by July 15, 2009 and that its financial statements and MD&A for the first quarter ended March 31, 2009 will be completed as soon as possible thereafter.
Raymor reports that since announcing the original Notice of Default on April 27, 2009, except as stated herein, there have not been any material changes to the information contained therein; nor any failure by Raymor to fulfill its intentions as stated therein with respect to satisfying the provisions of the alternative information guidelines, and there are no additional defaults or anticipated defaults subsequent to such announcement.
Except as otherwise publicly disclosed, there have been no additional material changes respecting Raymor and its affairs. Raymor intends to file its next Default Status Report by June 12, 2009.
Caution regarding forward-looking statements
Certain statements contained in this release contain forward-looking statements. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions may be used to identify forward-looking statements. Those statements reflect Raymor's current views with respect to future events or conditions, including prospective results of operations, financial position, and predictions of future actions, plans or strategies. Certain material factors and assumptions were applied in drawing Raymor's conclusions and making those forward looking statements. By their nature, those statements reflect management's current views, beliefs and assumptions and are subject to certain risks and uncertainties, known and unknown, including, without limitation, the possibility that Raymor may not satisfy all conditions to obtain the final approval of the Exchange in connection with the offering, including allowing the issuance of common shares in lieu of cash payment of interest, the timing of filing of the Raymor's audited financial statements, MD&A and related CEO and CFO certifications for the year ended December 31, 2008 and for the first quarter ended March 31, 2009, and the timing of filing of default status reports. Many factors could cause Raymor's actual results, performance or achievements to be materially different from any future results.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephane Robert, President.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
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Raymor Industries Inc.
450-434-1004 (ext.: 444)
Raymor Industries Inc.
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