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| | February 16, 2010
Radar Acquisition Corp. Update on Reverse Take-Over
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| | Calgary, AB -- February 16, 2010 -- Radar Acquisitions Corp. ("Radar" or the "Company") (TSXV: RAC) is pleased to report that, in connection with the Reverse Take-Over transaction previously announced on December 2, 2009, the time in which the Company is to file its initial approval documents with the TSXV has been extended until April 15, 2010. The parties to the Transaction, Radar and the vendors, continue to work towards a definitive purchase agreement and the main focus of the work effort is on progressing the concurrent financing related to the reverse take-over transaction.
Trading of Radar's common shares will remain halted in accordance with TSXV policies until all required documentation with respect to the Transaction has been received by the TSXV.
Further Information
For further information regarding the contents of this news release please contact:
Tim Bergen
President & CEO
Tel: 403.262.3797
Toll Free: 1.877.262.5888
E-mail: tbergen@radar.ab.ca
OTHER INFORMATION
Completion of the Transaction is subject to a number of conditions, including the execution of Definitive Agreements, successful completion of due diligence, disinterested Shareholder approval and TSX Venture Exchange acceptance,. The transaction cannot close until the required Shareholder approval and TSX Venture Exchange acceptance is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the Information Circular to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Radar should be considered highly speculative.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
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 release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
This news release will not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. Such securities have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States, or to a U.S. person, absent registration, or an applicable exemption therefrom. |
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