/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR
DISSEMINATION IN THE UNITED
STATES/
EDMONTON, Oct. 21,
2015 /CNW/ - Radient Technologies Inc.
("Radient" or the "Corporation") (TSX Venture: RTI)
announces the completion of the third tranche of a non-brokered
private placement of up to 6,250,000 units (the "Units") of the
Corporation at a price of $0.10 per
Unit for aggregate proceeds of up to $625,000 (the "Offering") previously announced by
the Corporation on August 11, 2015
and October 19, 2015. Under the third
tranche of the Offering, the Corporation issued and sold 639,700
Units for aggregate gross proceeds of $63,970.
Each Unit is comprised of one common share of the
Corporation (a "Common Share") and one half Common Share purchase
warrant (each whole warrant, a "Warrant"), with each whole Warrant
entitling the holder to subscribe for one additional Common Share
at a price of $0.50 per Common Share
until the date that is 42 months from the date of issuance.
All securities issued in connection with the
Offering will be subject to a statutory four-month hold period. The
Offering is subject to the receipt of all necessary approvals,
including the approval of the TSX Venture Exchange.
About Radient
Radient extracts natural
compounds from a range of biological materials using microwave
assisted processing ("MAP™"), a patented technology platform which
provides superior customer outcomes in terms of ingredient purity,
yield, and cost. From its 20,000 square foot manufacturing plant in
Edmonton, Alberta, Radient serves
market leaders in industries that include pharmaceutical, food,
beverage, natural health, personal care and biofuel markets. Visit
www.radientinc.com for more information.
Information set forth in this news release
contains forward-looking information and statements that are based
on assumptions as of the date of this news release. These
statements reflect management's current estimates, beliefs,
intentions and expectations. They are not guarantees of future
performance. The terms and phrases "goal", "commitment",
"guidance", "expects", "would", "will", "continuing", "drive",
"believes", "indicate", "look forward", "grow", "outlook",
"forecasts", "intend", and similar terms and phrases are intended
to identify these forward-looking statements, including but not
limited to statements regarding the completion of further tranches
of the Offering and the use of proceeds of the Offering. The
Corporation cautions that all forward looking information and
statements are inherently uncertain and that actual performance may
be affected by a number of material factors, many of which are
beyond the Corporation's control. Such factors include, among other
things: risks and uncertainties relating to the Corporation's
ability to complete the proposed Offering or any additional
tranches and the future use of the proceeds by the Corporation.
Accordingly, actual and future events, conditions and results may
differ materially from the estimates, beliefs, intentions and
expectations expressed or implied in the forward looking
information. Except as required under applicable securities
legislation, the Corporation undertakes no obligation to publicly
update or revise forward-looking information.
This news release shall not constitute an offer
to sell or the solicitation of any offer to buy, nor shall there be
any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful. The shares offered
will not be and have not been registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") and
may not be offered or sold in the United
States absent registration or an applicable exemption from
the registration requirements of the U.S. Securities Act and
applicable state securities laws.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Radient Technologies Inc.