TSX.V: RAY
"Effective September 16, 2009" TSX.V: LEO
VANCOUVER, Sept. 15 /CNW/ - Raytec Metals Corp. (the "Company" or
"Raytec") (TSX.V - RAY) announces that it has received approval from the TSX
Venture Exchange to change the Company's name to Lion Energy Corp. The
Company's stock symbol has been changed to "LEO" and the Company's CUSIP
number has been changed to 536201106. The name change and symbol change will
take effect September 16, 2009.
Lion Energy Corp. ("Lion Energy") president, Brian Thurston, stated:
"This name change reflects the Company's new focus as an oil & gas exploration
Company in Central & Eastern Africa. Management is very pleased with the
transition of the Company over the past four months and looks forward to
building Lion Energy into a top-tier player in this rapidly developing region.
Northeast Africa is seeing a major exploration effort as several billion
barrel discoveries have been recently announced."
About the Company:
The Company is a well-financed, Canadian exploration company with a
vision to develop a significant presence in the developing oil and gas
industry in East and Central Africa. Recently the Company signed an agreement
with Africa Oil Corp. that grants the Company the right to earn an interest in
five petroleum blocks located in the Republic of Kenya and in Puntland,
Somalia. The Company also holds 14.76% interest in Encanto Potash Corp., a
junior potash exploration company and a 20% interest in Sulphur Solutions
Inc., an emerging fertilizer company developing state-of-the-art patented
technology for the production of micronized sulphur fertilizer.
To find out more about the Company, please visit our website at
www.lionenergycorp.com.
On behalf of the Board,
RAYTEC METALS CORP.
"Brian Thurston", President and CEO
NEITHER THE 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 NEWS RELEASE
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical facts, that address exploration drilling, exploration
activities and events or developments that the Company expects to occur, are
forward-looking statements. Forward-looking statements in this news release
include statements regarding the Company's name change and intentions.
Although, the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or
developments may differ materially from those forward-looking statements.
Factors that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploration and exploration
successes, and continued availability of capital and financing and general
economic, market or business conditions. These statements are based on a
number of assumptions, including among others, assumptions regarding general
business and economic conditions, the timing and receipt of regulatory and
governmental approvals for the transactions described herein, the ability of
the Company and other parties to satisfy stock exchange and other regulatory
requirements in a timely manner, the availability of financing for the
Company's proposed transactions and programs on reasonable terms, and the
ability of third-party service providers to deliver services in a timely
manner. Investors are cautioned that any such statements are not guarantees of
future performance and actual results or developments may differ materially
from those projected on the forward-looking statements. The Company does not
assume any obligation to update or revise its forward-looking statements,
whether as a result of new information, future events or otherwise.
