FINANCING / Radiant Energy enters into Financing Agreement
TORONTO, Feb. 4 /CNW/ - Radiant Energy Corporation today announced that
it has entered into an agreement with BancBoston Securities Inc. To raise US
$30 to US $50 million, on a best efforts basis, by way of a private placement
of Radiant's securities. BancBoston Securities Inc. has agreed to act as
Radiant's financial advisor and placement agent in connection with the private
placement, the terms of which have yet to be determined. The proceeds from the
private placement would be used primarily to construct and put into commercial
operation several new aircraft pre-flight deicing systems, and for general
corporate purposes.
Radiant Energy Corporation's InfraTek(R) aircraft pre-flight, chemical
free, deicing system developed in conjunction with the Federal Aviation
Administration under Cooperative Research & Development Agreement 95-CRDA-0077
provides an environmentally friendly solution to current deicing technologies
and at considerably lower costs.
InfraTek(R) now in daily use at Buffalo Niagara International Airport, is
effectively and economically deicing many different types of aircraft.
The patented InfraTek(R) pre-flight deicing system is powered by clean
burning natural gas, generating infrared radiant energy at an electromagnetic
wavelength conducive to melting ice rapidly in a safe and efficient manner.
Securities of Radiant Energy Corporation are quoted for trading on the
Canadian Dealing Network (stock symbol MELT). There are 7,020,459 Common
Shares outstanding and 4,474,719 Warrants outstanding. |
