/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR
DISSEMINATION IN THE UNITED
STATES/
EDMONTON, Nov. 27, 2015 /CNW/ - Radient
Technologies Inc. ("Radient" or the "Corporation") (TSX
Venture: RTI) announces the completion of the first tranche of
a non-brokered private placement of up to 7,500,000 units (the
"Units") of the Corporation at a price of $0.10 per Unit for aggregate proceeds of up to
$750,000 (the "Offering") previously
announced by the Corporation on November
13, 2015. Under the first tranche of the Offering, the
Corporation issued and sold 1,500,000 Units for aggregate gross
proceeds of $150,000. The
proceeds of the Offering will be used for product development,
capital expenditures and general working capital purposes.
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 "Unit Warrant"), with each whole Unit Warrant
entitling the holder to subscribe for one additional Common Share
at a price of $0.25 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.