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Message: Raytec Increases Ownership in Sulphur Solutions
| April 30, 2009 |
| Raytec Increases Ownership in Sulphur Solutions |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2009) - Raytec Metals Corp. (the "Company "or "Raytec") (TSX VENTURE:RAY) announces that it has increased its stake to 20% of the issued and outstanding Common Shares in Sulphur Solutions Inc. ("SSI"), a privately held company based in Calgary, Alberta. The original agreement with SSI provided Raytec with a right of first refusal to participate in future SSI financings. Raytec has been encouraged by SSI's recent progress towards production and has elected to exercise its right by making an additional investment of $740,000. SSI, a fertilizer company developing state-of-the-art patented technology for the production of micronized sulphur fertilizer, has moved closer to production by signing a Letter of Intent with a mid-stream gas producer which operates a permitted site that includes an accessible sulphur supply. When completed this agreement will allow SSI to take advantage of existing permits for sulphur storage and handling, as well as reduced operating costs associated with transportation to off-site processing facilities. SSI management has also identified prospective customers (domestic and international) and is presently in the process of negotiating off-take agreements for SSI's anticipated sulphur fertilizer production. About Raytec: Raytec Metals Corp. is a well-financed Canadian exploration company focused on the acquisition of near-term precious metals assets. The Company holds over 180,000 acres of potash permits in Saskatchewan, Canada - the largest producing region for potash in the world. The Company also holds 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. The Company is further diversified with iron ore projects in Ontario, and uranium joint venture projects in the Athabasca Basin of Saskatchewan. On behalf of the Board, RAYTEC METALS CORP. Brian Thurston, President and CEO |
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